Suppose the government issues housing vouchers that increase the demand for housing in a city by 10 percent. The initial price of housing is $400. The price elasticity of supply of housing is 4.0 and the price elasticity of demand is -1.0. a. Depict graphically the market effects of the housing vouchers. b. Using the price change formula discussed in Chapter 5, the increase in demand the equilibrium price of housing by percent ( from $400 to), computed as...

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