3.1 Discuss two (2) cases of price elasticity of demand. Use diagrams to motivate your answer....

 

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3.1 Discuss two (2) cases of price elasticity of demand. Use diagrams to motivate your answer. 3.2 Fod QUESTION FOUR (20) Explain how, using elasticity as the basis for your answer, it can be determined whether two goods, A and good B are complement goods or substitute goods in consumption. (10) [10] Discuss the type of price control that can be implemented by a government to protect vulnerable labour in a country from being exploited. Substantiate your answer with the aid of a diagram. 3.1 Discuss two (2) cases of price elasticity of demand. Use diagrams to motivate your answer. 3.2 Fod QUESTION FOUR (20) Explain how, using elasticity as the basis for your answer, it can be determined whether two goods, A and good B are complement goods or substitute goods in consumption. (10) [10] Discuss the type of price control that can be implemented by a government to protect vulnerable labour in a country from being exploited. Substantiate your answer with the aid of a diagram.

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32 The cross elasticity of demand is an economic concept that measures the responsiveness in the qua... View the full answer