QUESTION TWO [30] 2.1. In terms of the diagram below, discuss the welfare implications of...
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Accounting
QUESTION TWO [30] 2.1. In terms of the diagram below, discuss the welfare implications of a specific excise tax, ie, the fixed amount of tax per unit of a good. (11) 2.2 Defend the point that the individual supply of labour curve is backward bending in shape. Chooses the ONE correct diagram from below to motivate your answer. (10) DIAGRAM A DIAGRAM B 2.3 Differentiate amongst total product, average product and marginal product. Motivate your answer with the aid of examples.
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