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Part I True / False Determine whether each of the following statements is true or false, and briej,r justify your answer (2-3 sentences). No credit

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Part I True / False Determine whether each of the following statements is true or false, and briej,r justify your answer (2-3 sentences). No credit will be given for unsupported answers. 1. Suppose all consumers have preferences such that relative demand for clothes compared to food does not depend on the level of income. Then we know there is a representative consumer for this country

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