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There Is a 15 Percent Increase in the Price of Lumber

Question 74

Multiple Choice

There is a 15 percent increase in the price of lumber used by a firm that builds new homes. This causes


A) a decrease in the quantity of new homes supplied.
B) an increase in the supply of new homes.
C) an increase of the quantity supplied of new homes.
D) a decrease in the supply of new homes.

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