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QUESTION
90% of the cultivated ginseng in the US is grown in Wisconsin (this is a fact).
90% of the cultivated ginseng in the US is grown in Wisconsin (this is a fact). Suppose ginseng is a competitive market in the US and Wisconsin has a hot summer causing farmers to have to add more water and fertilizer to grow the ginseng. As a result, the equilibrium price and quantity of ginseng will go up.
True or False?
