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Determine whether the following statement is true or false and justify your answer. If you make a claim without support, no credit will be awarded.
Determine whether the following statement is true or false and justify your answer. If you make a claim without support, no credit will be awarded. 2. Consider the market for slide-rulers which are considered to be an inferior good. Consumer incomes rise at the same time that a computer virus hits manufacturers, which significantly increases production costs. Without knowing anything about the magnitude of the impact of either shock to demand or supply, we can still predict that the equilibrium market price will fall.
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