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An agent has a utility function over goods 1 and 2 of the form U = xc1 x d2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to your 2-digit number. Initially, the price of good 1 is your median number and the price of good 2 is your individual number. Let the price of good 1 change to your maximum number. For good 1, determine for this price change the
a) Total price effect
b) The substitution effect
c) The income effect
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Problem 1: (a) Define the concepts of production-oriented capitalist system and market-oriented capitalist systems. (b) With set examples, explain how these firms behave
Find 1-3 articles that discuss the competition between Target and Walmart.
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I need answers for exam 3 & 4.
FOUR CAUSES OF SLOW OF SOUTH AFRICA ECONOMY
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