Question: 2. Draw a supply and demand model that shows the market for homes. Identify and label the market equilibrium price and quantity. a. After a

2. Draw a supply and demand model that shows the market for homes. Identify and label the market equilibrium price and quantity. a. After a severe bout of foreclosures and defaults on home loans, banks made it harder for people to borrow. In your model, draw and label a new curve to show the effect in the market for homes when home loans became harder to get. Identify and label the new market equilibrium price and quantity

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