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Running head: INTERMEDIATE MICROECONOMICS
Demand and Supply Curve Analysis
Student's Name
Institutional Affiliation
1
INTERMEDIATE MICROECONOMICS
2
Demand and Supply Curve Analysis
Question 1
The demand curve highlights the relationship between price and quantity demanded in a
given market. The law highlights that the higher the price, the lower the quantity demanded,
while the lower the price, the higher the quantity demanded. On the other hand, the supply curve
establishes a relationship between the quantity supplied within the market and the commodity's
price over time (Patrick, 2020). From the supply curve, higher prices are prone to initiating more
quantity supplied in the economy. In the graph below, DD is the demand curve while S...