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Unformatted text preview: demanded but not the quantity supplied. Is this statement true or false? ANSWER: The statement is, in general, false. The increase in demand for notebooks causes an increase in price. The increased price in turn increases the quantity supplied. The only way the statement would be true is if the supply curve was a vertical line...
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This note was uploaded on 02/02/2009 for the course ECON 62140 taught by Professor Ouyang during the Spring '08 term at UC Irvine.
- Spring '08