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Research findings indicate that the way people spend vouchers is consistent with the predictions of standard economic theory and there is no evidence of a

"Research findings indicate that the way people spend vouchers is consistent with the predictions of standard economic theory and there is no evidence of a wider behavioural response." Discuss this statement by (a) applying relevant intermediate microeconomic theory and 

(b) referring to the evidence in the research literature.

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a From the perspective of intermediate microeconomic theory the statement suggests that individuals behave rationally and in accordance with the predictions of standard economic models when spending v... blur-text-image

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