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Qusetion: Suppose there are two consumers A and B. The marginal rate of substitution of A is MRS = Y/X , A A A and that of B is MRS = Y /X. Draw an Edgeworth Box and show all the points at which exchange B B B efficiency occurs. Draw in an indifference curve for each consumer so that the two indifference curves intersect off the contract curve. If this intersection is the initial position of the two consumers show which Pareto efficient points can be reached by voluntary trades.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92582816

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