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2) Using the diagram below, Illustrate and briefly explain which is more efficient, a subsidy on good X or an income transfer of the same

2) Using the diagram below, Illustrate and briefly explain which is more efficient, a subsidy on good X or an income transfer of the same dollar amount, and why (5 marks) Y 1/PY eo 15 13 10 1/Px I'/Px X

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