As the prices of homes fell across the United States in 2008, the number of homes offered

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As the prices of homes fell across the United States in 2008, the number of homes offered for sale decreased.
a. Does this fact illustrate the law of demand or the law of supply? Explain your answer.
b. Why would home owners decide not to sell?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 06:57 AM

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As the prices of homes fell across the United States in 2008, the number of homes offered

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a This fact illustrates the law of supply As the pr...View the full answer

Microeconomics

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