Suppose Austin, Texas, is hit by a tornado that destroys 25 percent of the housing in the
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Suppose Austin, Texas, is hit by a tornado that destroys 25 percent of the housing in the area. Would you expect the total expenditure on housing after the tornado to be greater than, less than, or equal to what it was before the tornado? Explain your answer.
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It depends The tornado shifts the supply curve of housing lef...View the full answer
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