Question: In a market with a flat (horizontal) supply function, an increase in demand for property would be met with A. an increase in equilibrium price.

In a market with a flat (horizontal) supply function, an increase in demand for property would be met with A. an increase in equilibrium price. B. a decrease in equilibrium price. C. no change in equilibrium price. D. stagnant deflation. Question 18: Which is typically NOT a characteristic of a "poor" or declining real estate market? A. Falling rent levels B. Falling sales prices C. Decreasing vacancy rates D. Less new development

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