Part-I Microeconomics (50 marks)
1. Consider the residential property market (i.e. buyers and sellers of houses) in Dublin, and the mortgage market for those properties.
A. Describe and explain the type of market structure in which mortgage suppliers operate, including a critical characterisation of the key underlying market characteristics/assumptions. (20 marks)
B. Two lenders announced that they will leave the Irish market next year. Use the demand and supply model to pr...