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After reading the first part of Chapter Three in the textbook, make sure to study the Course Documents (my class notes) about it in Canvas
After reading the first part of Chapter Three in the textbook, make sure to study the "Course Documents" (my class notes) about it in Canvas within the "Modules" button. Then, by 11:59 p.m. on Friday, April 19, paste an answer within an introductory paragraph on the "Reply" line (below) to the following question question: What is an example of (just) one thing in the United States that could happen soon, which could result in an increase in the Demand for (just) one specific good or service outside of the state of Washington, sold by a specific business firm that you can identify (by name)? Before posting your answer, make sure to read the answers other students have posted, so that you can make sure that your example product (and business firm) is different than theirs. To earn the most points, your posting should identify and discuss (just) one of the typical "Factors of Demand" that are identified and discussed in both Chapter Three and the Canvas modules. And you should also make sure to describe one specific location outside of the state of Washington where this business firm currently sells this product. Then - in at least two more paragraphs - discuss and demonstrate your own understanding of the difference between a "Change in Demand" and a "Change in Quantity demanded" in the Product Market, as these concepts relate to the specific product and business firm that you have chosen to use as your example. Please remember that I am looking for these concepts to be described in these paragraphs as they are described in both Chapter Three of the textbook and the course documents in the "Modules" section of Canvas. And make sure your postings don't have any spelling errors in them (words that are underlined in red within Canvas by the auto-spell checker). (Please note that the one thing that cannot cause the Demand for a product to decrease or increase would be for the price of the product itself to change - this only changes the quantity demanded of consumers)
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