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ANSWER THE FOLLOWING QUESTIONS THOROUGHLY. YOU MAY CONSULT THE INTERNET BUT YOU SHOULD ANSWER IN YOUR WORDS/ANALYSIS. A. In layman's terms (simple words), what is

ANSWER THE FOLLOWING QUESTIONS THOROUGHLY. YOU MAY CONSULT THE INTERNET BUT YOU SHOULD ANSWER IN YOUR WORDS/ANALYSIS.

A. In layman's terms (simple words), what is the Law of Supply?

B. Cite and explain/discuss a situation/example wherein the law of supply may not hold.

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