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ECS2601 ASSIGNMENT 1 SEMESTER 1 2025 1.1 In microeconomics we need to make certain assumptions about the preferences of consumers. Use real life examples to explain any two of these assumptions. (4) 1.2 Critically evaluate why the marginal rate of s
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14

March 2025

2024/2025

A+
ECS2601 ASSIGNMENT 1 SEMESTER 1 2025 1.1 In microeconomics we need to make certain assumptions about the preferences of consumers. Use real life examples to explain any two of these assumptions. (4) 1.2 Critically evaluate why the marginal rate of substitution between two goods must equal the ratio of the price of the goods, for the consumer to achieve maximum satisfaction. (3) 1.3 Comment on any two of the following topics related to elasticities: (a) Arc elasticity of dema...
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Exam (elaborations)

ECS2601 ASSIGNMENT 1 SEMESTER 1 2025 1.1 In microeconomics we need to make certain assumptions about the preferences of consumers. Use real life examples to explain any two of these assumptions. (4) 1.2 Critically evaluate why the marginal rate of s
-

-

1

14

March 2025

2024/2025

A+
ECS2601 ASSIGNMENT 1 SEMESTER 1 2025 1.1 In microeconomics we need to make certain assumptions about the preferences of consumers. Use real life examples to explain any two of these assumptions. (4) 1.2 Critically evaluate why the marginal rate of substitution between two goods must equal the ratio of the price of the goods, for the consumer to achieve maximum satisfaction. (3) 1.3 Comment on any two of the following topics related to elasticities: (a) Arc elasticity of dema...
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