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consider the following statements when answering the question: I. increases in the demand for a good which is produced by a competitive industry will raise
consider the following statements when answering the question:
I. increases in the demand for a good which is produced by a competitive industry will raise the short run market price
II increases in the demand for a good, which is produced by a competitive industry will raise the long run market price
a. I and II are false
b. I is true and II is false
c. I is false and II is true
d. I and II are true
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