Supply and Demand

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Using the product or service that you have selected for your assignments, respond to all of the below prompts:

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  • Is it an inferior, normal, or luxury product, or service?
  • What are its substitutes and complements, if any?
  • In what ways does your product or service provide utility to your customers?
  • Name one strong utility feature and one weak utility feature of the product or service.

As described in the lecture, discuss one factor that has shifted demand OR supply of your product or service within the last year.

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