Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity. Apple announces on their social media page that their laptops will go on sale in August just in time for the back to school shopping.
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Apple announces on their social media page that their laptops will go on sale in August just in time for the back to school shopping.
The consumer's purchase decision depends on the price of the goods and services and the law of supply and demand. The law of supply states that if the price of a product increases, the quantity supplied of that product also increases and if the price falls, the quantity supplied also falls. On the other hand, the law of demand states that if the price of a product rises, the quantity demanded falls and if the price of the product falls, the quantity demanded of a product rises.
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