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explaine the law of supply and demand.
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the law of supply and demand states that when demand for a product increases, the price of the good increases as well, and vice versa. additionally, as the price of a good increases, producers will increase the supply (or availability) of the good. conversely, when the price of a good drops, producers will decrease the supply, as the lower price is not as profitable for them. the law of supply and demand explains the interaction between the supply of a good and the demand for that good and how prices are affected by the interaction.
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