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Which of the following statements involves positive economic analysis and which normative? Explain, how do the two kinds of analysis differ? a. Some consumers strongly

Which of the following statements involves positive economic analysis and which normative? Explain, how do the two kinds of analysis differ?

a. Some consumers strongly prefer Pepsi and some strongly prefer Coke. (5 Marks)

b. The price of regular-octane gasoline were 20 cents per gallon higher in US than in Europe. (5 marks)

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