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William works for a loadsheding firm and gets remunerated a monthly wage of $500. He always spends all the $500 on buying 5kg of mealie meal only which he buys at $100/kg. One day amidst of covid 19 pandemic, the price of meal increased to $120/kg. Due to the snap change in the price, William's supervisor approached him and gave him two (2) options to choose from;

1. To reduce his wage to $400 and supplying him with 5kg of mealie meal at $80/kg monthly

2. To increase his wage to $600.

As a smart student of principles of Economics, kindly advise William to make a justified rational choice

Reference no: EM132503133

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