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Identify the economic meaning of each of the choice pointsa) : A, B, C, D, and E.
b) What is the opportunity cost of a brand name drug?
c) If the consumer spends $1000 on drugs for the week
i. What is the price of a generic drug?
ii. What is the price of a brand name drug?
iii. illustrate the customer budget lines if the price of brand name drug double
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