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Question 2 With reference to pricing and rent-seeking, discuss the following statement in about 200 words: 'The sharp increase in cab fares on a snowy

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Question 2 With reference to pricing and rent-seeking, discuss the following statement in about 200 words: 'The sharp increase in cab fares on a snowy day in New York led to severe criticism of Uber on social media, but a sharp increase in the price of gold has no such effect.' (20 marks)

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