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True or false
The real estate market is slow to respond to changes in demand?

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User Addzo
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1 Answer

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Final answer:

The statement “In the goods market, no buyer would be willing to pay more than the equilibrium price” is false because prices can rise when demand exceeds supply.

Step-by-step explanation:

The statement “In the goods market, no buyer would be willing to pay more than the equilibrium price” is false because in a market economy, prices are determined by supply and demand. When demand exceeds supply, prices rise, and buyers are often willing to pay more than the equilibrium price to secure the desired goods. This can be seen in situations like Black Friday sales, where buyers are willing to pay higher prices to get limited-quantity items.

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User Talie
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