Analyze how the law of demand applies to a recent purchase that you made.

Analyze how the law of demand applies to a recent purchase that you made. Describe how the product has changed in price and explain whether the price change is due to supply or demand. Did the change in price affect your decision to purchase the item?

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• Amacher, R., & Pate, J. (2013). Microeconomics principles and policies[Electronic version]. Retrieved from https://content.ashford.edu/
  • Chapter 1: Economics, Economic Methods, and Economic Policy
  • Chapter 2: Markets, Governments, and Nations: The Organization of Economic Activity
  • Chapter 3: Supply and Demand: The Basics of Economic Analysis