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This document contains an economics test from the University of Toronto with four multi-part questions. Question 1 involves utility maximization for a consumer allocating income between consumption and savings. Question 2 examines intertemporal consumption for a consumer living for two periods. Question 3 analyzes cost minimization for three firms with different production functions. Question 4 uses data from a case study to derive a demand curve, determine profit-maximizing output levels, and discuss prici

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