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QUESTION ONE 1.1. Distinguish with the aid of examples between: a. Positive and normative| statements b. The income and substitute effect according to demand-supply analysis

QUESTION ONE 1.1. Distinguish with the aid of examples between: a. Positive and normative| statements b. The income and substitute effect according to demand-supply analysis 1.2 Discuss two (2) factors that affect the supply curve

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