The services of real estate brokers are provided in a competitive market. If the state Board of Realtors enacts several requirements that limit the number of real estate brokers, which of the following is most likely to occur? Consumer surplus will increase. Producer surplus will increase. Social welfare will increase. Entry of new brokers will increase.

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09-12-2022
Business

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The services of real estate brokers are provided in a competitive market. If the state Board of Realtors enacts several requirements that limit the number of real estate brokers, which of the following is most likely to occur? Consumer surplus will increase. Producer surplus will increase. Social welfare will increase. Entry of new brokers will increase.

Answer :

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RupaBera RupaBera · Answer 1 · 2022-12-15T23:56:54-05:00

A real estate practitioner who has obtained a broker license is known as a real estate broker. One must maintain an active real estate license for two years in the majority of states.

A real estate broker is what?

a person or business authorized by the law to assist a seller in finding a buyer or occasionally to assist a buyer in finding the ideal home

What is the broker's primary duty?

For a fee, a broker's primary duty is to find a solution to a client's issue. Lending to clients for margin transactions, providing information support on the situation on trading platforms, and other duties are considered secondary functions. Online, discount, and full-service brokerages are the three different types of brokerage.

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