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Explain the law of supply

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Reference no: EM133064190

1. Define and explain the Law of Demand.c. Consumers taste or preferences

2. Define and explain the Law of Supply.

3. Discuss the following determinants of demand:

a. Income of the consumer

b. Price of related goods

d. Price expectation

e. Population

4. Discuss the following determinants of supply:a. Cost of Production

b. Available Resources

c. Number of suppliers or sellers

d. Technology

e. Taxes

f. Weather

Reference no: EM133064190

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