Economic laws are established in order to make successful

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Reference no: EM1313584

Q1. The factors affecting demand also estimate the amount in percentage for each factor also putting all these factors together, Illustrate what might be the cumulative overall change in D each year?

Q2. Conclude the equilibrium price also quantity in the subsequent situation. Demand is represented by the equation, P=30-.5QD also delivery by the equation P=5+.5QS.

Q3. Explicate:"like all scientific laws, economic laws are established in order to make successful prediction of the outcome of human action."

Reference no: EM1313584

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