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Business, 07.11.2019 05:40 lovebug3563

President vladimir putin of russia proposed replacing in-kind subsidies such as free public transportation and rent-free apartments for government works with cash subsidies of between $20 and $120 per month. the proposal led to widespread complaints among russian citizens that the cash subsidies were not large enough. one reportedly asked, "what is a perk worth? " (chivers, 2004). use and indifference curve analysis to show how to convert an in-kind subsidy into a cash subsidy that leaves people equally well off.

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