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The law of demand is an inverse relationship between the price and quantity demanded. Evaluate how you can relate this law to a recent purchase
The law of demand is an inverse relationship between the price and quantity demanded. Evaluate how you can relate this law to a recent purchase that you have made. Why do you think this law is an effective law that holds within markets? How do you think a store is able to deal with a shortage that is present at a grocery store? What does a shortage reflect about the product?
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