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TRUE or FALSE statement
"The sales of Poundland and other bargain stores tend to thrive when the economy is in a recession."
To achieve full 5 marks. Your answer must contain
i) Identify whether the statement is TRUE or FALSE
ii) Give short explanation
iii) Complement the answer with a relevant diagram or a formula
A consumer has a utility function U(x1, x2) = x1x2 + x1 + x2. Her income is $30, while prices of goods 1 and 2 are $8 and $2, respectively.
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