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A consumer purchases food (X) and clothing (Y). Her utility function is given by: , income is $100 and the price of food is $1 and the price of clothing is Py.
a. Derive the equation for the consumer's demand function for clothing.(15 marks)
b. Are X and Y normal goods?
(i) Define the three types of price discrimination, clearly stating the different information requires of each type of discrimination. (ii) Find a real-world example of second-degr
What are the basis for International Trade?
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Dividend The distribution of an organizations earnings to its owners-the stockholders. Cash dividends are most ordinary, although partition can be issued in other forms, such
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
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Inflation is defined as
graphing a isoquant
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explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
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