Solved: How the law of demand and the law of supply interact, Microeconomics

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How the law of demand and the law of supply interact

Question 1. Please define microeconomics and macroeconomics.

Question 2. Please state the law of demand and law of supply and explain how the law of demand and the law of supply interact to bring about equilibrium.

Question 3. Please explain the importance of substitution to the laws of supply and demand and give a real-world example.

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Microeconomics: How the law of demand and the law of supply interact

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Microeconomics: How the law of demand and the law of supply interact

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