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Plz write clearly Deman Su 1 and Price Control A demand curve is a graphical representation of how much of a good or service households

Plz write clearly

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Deman Su 1 and Price Control A demand curve is a graphical representation of how much of a good or service households will want to buy at different prices. A supply curve is a graphical representation of how much of a good or service a rm is willing to sell at some specic price. The intersection of the demand and supply curve is called equilibrium. First, briey explain the laws of supply and demand. In doing so, be certain your answer includes an explanation of the relationship between price and quantity for goods that are substitutes and for goods that are compliments; Then, briey explain the relationship between price and quantity above the equilibrium price, and the relationship between price and quantity below the equilibrium price. In doing so, be certain your answer includes an explanation of the two separate conditions that result from each relationship to their related market inefficiencies; Next, briey explain the two types of price controls that result in market inefficiency

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