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# Long description

A graph relating price (on the vertical axis) to quantity (on the horizontal axis). There are two straight lines plotted: market supply and market demand. Market supply is positively sloped, while market demand is negatively sloped. Market supply and market demand meet at a point where price is equal to Pe and quantity equal to Qe. Text reads: With no intervention, private demand from homebuyers and private supply for developers determine the equilibrium price of home (Pe) and the equilibrium quantity bought and sold (Qe).