Economic epochs a. The figure below presents unstable and stable equilibria in the housing market. i) Explain the difference between stable and unstable equilibria and ii) explain how this distinction...

Extracted text: Economic epochs a. The figure below presents unstable and stable equilibria in the housing market. i) Explain the difference between stable and unstable equilibria and ii) explain how this distinction can explain the occurrence of the housing crisis. Price unchanged from year to year B Price dynamics curve, PDC A Tipping point, unstable equilibrium 45° Price, period t Word count: 0, character count: 0 Price, period t +1