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BONUS QUESTION (10 MARKS). Consider a simple static macroeconomic competitive equilibrium model, a representative consumer's preference is U (cl) = (1 04) log (c) +

BONUS QUESTION (10 MARKS). Consider a simple static macroeconomic competitive equilibrium model, a representative consumer's preference is U (cl) = (1 04) log (c) + alog (1 N) ,where 0

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