Start with a market equilibrium of the housing market. Assume the equilibrium housing price in San Jose to be $269,000 and the equilibrium quantity of the housing market to be 10,000 houses. Draw the supply and demand that makes the housing market to go to that equilibrium price.

Q: PRICE($) Demand QUANTITY Supply

A: Demand curve shows a negative relationship between price and quantity demanded. Supply curve shows a…

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A: Answer

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