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1. Based on the concept of the law of demand and law of supply in microeconomics, explain the difference between changes in quantity demanded (and/or

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1. Based on the concept of the law of demand and law of supply in microeconomics, explain the difference between changes in quantity demanded (and/or changes in quantity sup- plied) and changes in demand and/or changes in supply. Give a real-world example with a graph and explain the graph. No specific data is required for drawing the graph

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