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Explain demand theory discuss factors that cause changes in

1. Choose an economist discussed in Chapters 3-4 and explain that philosopher's market theory.

2. Explain demand theory. Discuss factors that cause changes in demand and quantity demanded.

3. Explain supply theory. Discuss factors that cause changes in supply and quantity supplied.

4. How do changes in supply and demand effect market price and quantity?

5. Explain the implications of tax on both supply and demand.

6. Discuss the black market and government's response. How do the laws create higher risks for suppliers? Explain

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