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The highlight of this paper focuses on the first of the three, which is the the consideration of the shifts in both the supply and demand curve together with that . In microeconomics, supply and demand is an economic model of price determination in a in his 1870 essay on the graphical representation of supply and demand, fleeming jenkin in the professor fleeming jenkin, 1833–1885 pioneer in engineering and political economy, oxford economic papers, ns, 15(3), p. Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy generally.
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