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1. Explain the law of demand. What is the major assumption critical for the law of demand? 1. Explain the law of demand. What is

1. Explain the law of demand. What is the major assumption critical for the law of demand?

1. Explain the law of demand. What is the major assumption critical for the law of demand? 2. Explain the law of supply and list the factors that affect supply. 3. List the factors that can shift the demand curve. Provide an example for each

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