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What are three (3) important takeaways to keep in mind, when considering the law of supply and demand? In your words, provide a definition, and

  1. What are three (3) important takeaways to keep in mind, when considering "the law of supply and demand"?
  2. In your words, provide a definition, and three (3) examples of the term "market"
  3. What is price quantity equilibrium" Sod why is the understanding of this concept vital for the study of

microeconomics?

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