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Supply and demand

Consider what your firm produces( tools ). What are some things that would change the demand for your product?
What are some things that would affect changes in supply?
How can quantity demanded be changed?
What if the government raised the minimum wage. How would this policy effect your firm?

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As a tool maker (suppose that you make house related tools such as nails and hammers),

What are some things that would change the demand for your product?
-cost of producing tools decreased => so price of tools drops

What are some ...

Solution Summary

Supply and demand

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