Explain why is the law of supply and demand in applicable

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Q. Explain why is the law of supply and demand in applicable without a ceteris paribus assumptions?

Q. Three farm products and determine whether their prices (as measured by "prices received by farmers") have generally increased, decreased, or stayed the same over the past three years. In which of the three cases, if any, do you think that supply has increased more rapidly than demand? In which of the three cases, if any, do you think that demand has increased more rapidly than supply?

Reference no: EM1347220

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Explain why is the law of supply and demand in applicable : Explain why is the law of supply and demand in applicable without a ceteris paribus assumptions.

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