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Question 2 [10 marks] The impact of a subsidy depends on the elasticity of demand of the good in question. Explain the different impacts or
Question 2
[10 marks] The impact of a subsidy depends on the elasticity of demand of the good in question. Explain the different impacts or effects on price and quantity using the following: (a) Inelastic demand curve (5) (b) Elastic demand curve
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