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1. (4 points) In each situation below, indicate if demand for wooden pencils or QD of wooden pencils changes and, the direction (increase or

1. (4 points) In each situation below, indicate if demand for wooden pencils or QD of wooden pencils changes and, the direction (increase or decrease) of the change. a. (1 point) the price of pencils falls. b. (1 point) the price of mechanical pencils rises. c. (1 point) incomes rise. d. (1 point) the number of school children falls.

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