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1. Base on your own opinion, what events triggered the increase in the price of the commodity and its byproducts? 2. Why do we need

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1. Base on your own opinion, what events triggered the increase in the price of the commodity and its byproducts? 2. Why do we need to study market demand, market supply and market equilibrium? 3. Give an example of good that you have experienced a shortage? What happened to the price of that good

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