Assume there is a simultaneous increase in home foreclosures and a dec

Assume there is a simultaneous increase in home foreclosures and a decrease in consumer incomes. Based on this information we can conclude, with certainty, that in the market for used single-family homes equilibrium:

A) price will increase.
B) price will decrease.
C) quantity will increase.
D) quantity will decrease.

 

ANSWER

B

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