According to economists, people's tendency to purchase a given commodity is inversely proportional to its price. When new techniques produced cheaper steel, more steel was purchased. Nevertheless, once machine-produced lace became available, at much lower prices than the handcrafted variety, lace no longer served to advertise its wearers' wealth and the lace market collapsed. Obviously, then, there are exceptions to the economists' general rule.
The claim that more steel was purchased when it could be manufactured more cheaply plays which one of the following roles in the argument?
It is described as inadequate evidence for the falsity of the argument's conclusion.
The claim in the question stem is not used to claim that the author’s conclusion is false; the claim in the question stem is just used as an example to illustrate the economists’ rule.
It is described as an exception to a generalization for which the argument offers evidence.
The claim about steel is used as an example of a commodity that follows the economists’ rule, not an exception to the generalization. Further, the argument does not offer evidence of a generalization; the argument offers evidence of an exception to a generalization.
It is used to illustrate the generalization that, according to the argument, does not hold in all cases.
The claim about steel is used as an example to demonstrate the economists’ general rule. Additionally, the argument does say that this general rule does not hold in all cases.
It is the evidence that, according to the argument, led economists to embrace a false hypothesis.
The argument does not claim that the example of steel led economists to embrace anything; it is just an example that follows the economists’ rule. Further, the author does not argue that the hypothesis is false, just that it has exceptions.
It is cited as one of several reasons for modifying a general assumption made by economists.
The author is not advocating modification of the economists’ general rule; the author is only saying that the rule has exceptions. Further, the example about steel conforms to the general rule.