Question 1 (Total :0 Marks) a. Illustrate the Law of Equimarginal roles In terms of total utility and marginal utility. {10I marks) b. Dene the rainfall elasticity of demand for umbrellas, using your knowledge of the elasticity concept. What possible usefulness could such elasticity have? (10 marks) {Total 20 Question 2 Marks Investigate the concept of breakeyen volume and explain the characteristics drive of BEV. (20 Marks) Question 3 [Total 2!] Marks) International transactions are inuenced by international prices. a) Explain the Two (2} most important inhemational prices. {10 Marks) c) Demonstrate the Opportunity discount rate. (Justify your argument with an example). (10 Made.)