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QUESTION ONE (20 Marks) A. Write short notes on the following i. Give an overview definition of mathematical economics. ii. Describe the various areas where

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QUESTION ONE (20 Marks) A. Write short notes on the following i. Give an overview definition of mathematical economics. ii. Describe the various areas where mathematics can be applied to economics ili. What are the differences between static and dynamic models in economics? iv. When do we need to apply models in economic analysis

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