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Consider the market for paperbound economics textbooks
Consider the market for paperbound economics textbooks. What happens if the market price of paper increases:
a. The rise in the price of paper, a key input in textbook production, causes a decrease in the supply of textbooks,
b. The rise in the price of paper, a key input in textbook production, causes an increase in the supply of textbooks,
c. The rise in the price of paper, a key input in textbook production, causes no change in the supply of textbooks,
d. None of the above.
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