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Exploring the concepts of supply and demand What is the difference between a change in demand versus a change in quantity demanded? Why is it

Exploring the concepts of supply and demand

What is the difference between a change in demand versus a change in quantity demanded?
Why is it so important to differentiate between these similar-sounding terms?
What role do elasticities play in the decisions that individuals and firms make?
Consider a product you recently purchased - please state the product, and explain if you feel its demand is elastic, or inelastic, and why

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