Question: 3.04a Supply and Demand Assignment Part I: What is the law of supply? What is the law of demand? How are they related? _ _

3.04a Supply and Demand Assignment

Part I: What is the law of supply? What is the law of demand? How are they related?

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Part II: Select either supply or demand, then select any one determinant that could shift that line. (For example, if you are looking at demand, you might assume that people have become more interested in a product due to advertising.) Explain which line you are addressing and what is happening, then draw that shift on the graph. You will have two lines for the one you are addressing and one of the other. (For example, if demand is shifting, you will have two demand lines and only one supply line in the graph.)

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3.04a Supply and Demand AssignmentPart I: What is the law of supply?

What is the law of demand? How are they related?_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Part II: Select

either supply or demand, then select any one determinant that could shift

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Part I The Law of Supply and Demand Law of Supply The law of supply states that all else being equal an increase in the price of a good or service will result in an increase in the quantity supplied P... View full answer

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Question: 3.04a Supply and Demand Assignment Part I: What is the law of supply? What is the law of demand? How are they related? _____________________________________________________________________________ _____________________________________________________________________________

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Question: 3.04a Supply and Demand Assignment Part I: What is the law of supply? What is the law of demand? How are they related? _ _