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Question
Based on Law of Demand, Coase, Search Theories or any other Economics Principles to support your answer, explain the following the statement: "The value of the whole stock of existing housing should not be determined by the transaction prices at which the few houses that come on the market in a year sell. These prices (e.g., the transaction prices) are misleading because prices would be much lower if anything like the whole stock of existing housing came onto the market. True, false or neither. Explain fully."
This document contains various important questions and their appropriate answers in the subject field of Economics.
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