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For the following questions label each statement as True or False and explain why you choose your answer. 1.True or FalseEconomics is a business discipline

For the following questions label each statement as True or False and explain why you choose your answer.1.True or FalseEconomics is a business discipline that studies how firms can maximize profits.

2.True or FalseWhen the price of an item increases it means that the supply of the item has fallen.

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