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Using the schedules given,plot the demand curve and the supply curve on the below graph.Label the axes and indicate for each axis the units being used to measure price and quantity.Then answer the questions.
Substitutes
Goods or services that can be used in place of one another; an increase in the price of one leads to an increase in demand for the other.
Related Goods
Products or services that are connected by consumer preferences or demand, such as substitutes and complements.
Price Decreases
Occurs when the cost of a good or service drops, often due to factors like increased supply, reduced demand, or competitive market pressures.
Substitutes
Goods or services that can be used in place of each other, where the increase in the price of one leads to an increase in demand for the other.
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