Question

If the number of people immigrating into Melbourne increases over the next 5 years, then the...

If the number of people immigrating into Melbourne increases over the next 5 years, then the demand for houses would increase (all other things remaining the same) is this true then or false? pls explain with a graph

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

It is True

When number of people immigrating into the city increases then the demand for houses will increase. That is demand for houses will shift to its right. Other things are held constant therefore the supply of house is considered to be constant therefore the equilibrium price will increase. Due to more population the demand for house will increase. Refer the attached picture below.

The demand curve has shifted to its right therefore the quantity demanded increased from Q1 to Q2.

Thus, the above statement is true.

Please contact if having any query thank you.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Question 5 Knowing that coffee and tea are substitutes, suppose that the demand for coffee increases...
Question 5 Knowing that coffee and tea are substitutes, suppose that the demand for coffee increases and, at the same time, the supply of the coffee decreases. What would surely happen in the tea market? Question 5 options: The Demand for tea will go up because the price of coffee went up. The price of tea will go down because the price of coffee went up. The supply of tea will go down because the price of coffee went up....
QUESTION 23 If the number of demanders for electric cars increases at the same time as...
QUESTION 23 If the number of demanders for electric cars increases at the same time as the number of suppliers of electric cars increases and the shift in demand is equal to the shift in supply, which of the following is true?AND EXPLAIN Both the equilibrium quantity and price will decrease. Both the equilibrium quantity and price will increase. The equilibrium quantity will increase and the equilibrium price will not change. The equilibrium price will decrease and the equilibrium quantity...
There are 10 people waiting in line at a bank. X = number of people who...
There are 10 people waiting in line at a bank. X = number of people who are served in the bank next 15 minutes. There are a fixed number of observations, n. A) True B) False Each observation can be categorized as being either a success or a failure (two outcomes), and X counts the number of successes. A) True B) False The probability of success p is the same for each observation. A) True B) False Observations are independent....
31. Increases in demand are graphed as rightward shifts of the demand curve. Similarly, increases in...
31. Increases in demand are graphed as rightward shifts of the demand curve. Similarly, increases in supply are graphed as rightward shifts of the supply curve. Group of answer choices True False 32. Assume the income elasticity of a car is 0.75. If consumer income decreases by 5%, the quantity demanded would _______ by _______. Group of answer choices increase 5.75% increase, 3.75% increase, 4.25% increase, 1.33% decrease, 3.75% 33. Which of the following will result in a definite increase...
Suppose COGS is currently 67% of sales and over the next year sales growth by 5%...
Suppose COGS is currently 67% of sales and over the next year sales growth by 5% and growth COGS is 3%. Do you predict the COGS as a percent of sales will increase, increase, or remain the same over the next year? Explain and verify your intuition by calculating the COGS as a percent of sales at year-end.  
Suppose that demand for a good increases and, at the same time, supply of the good...
Suppose that demand for a good increases and, at the same time, supply of the good decreases. What would happen in the market for the good? a. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous. b. Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. c. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous. d. Equilibrium price would increase, but the impact on equilibrium quantity would...
If the expected path of one-year interest rates over the next four years is 5 percent,...
If the expected path of one-year interest rates over the next four years is 5 percent, 4 percent, 3 percent, and 2 percent. Draw the yield curve under the expectations theory. Now, assume liquidity premium are 0.25 for 2 year, 0.5 for 3 year and 0.75 for 4 year bonds, draw on the same graph (ideally in different color) the yield curve under the liquidity premium theory.
A stock will pay dividends of $1, $5, and $10 over the next three years, and...
A stock will pay dividends of $1, $5, and $10 over the next three years, and then increase dividends at a rate of 2% afterwards. Its required rate of return is 19%. What is the value of the stock? Round to the penny.
We have heard the predictions regarding the large number of people that will be retiring over...
We have heard the predictions regarding the large number of people that will be retiring over the next 25-50 years and the strain this is going to place on the federal budget. Assuming that federal borrowing will have to increase, what is the likely impact going to be on the risk and term structure (if any) of interest rates and why?
QUESTION 8 As an In and Out Burger restaurant increases the number of employees for a...
QUESTION 8 As an In and Out Burger restaurant increases the number of employees for a specific restaurant, Total production of hamburgers will fall. Costs of production will fall. Efficiency will suffer as the restaurant becomes too crowded with employees. The production function will increase. 2 points QUESTION 9 Picture If the price is reduced from $100 to $80 in Figure 20.1, ceteris paribus, Total revenue will decrease. Demand will increase. Quantity demanded will decrease. Total revenue will increase. 2...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT