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a. Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbor, Friday, is a fisherman, and he is willing to trade 2 fish for every 1 coconut that you are willing to give him. Another neighbor, Kwame, is also a fisherman, and he is willing to trade 3 fish for every 1 coconut.

b. What is the slope of the budget line from trading with Friday? Can you please explain how you found the slope

c. What is the slope of the budget line from trading with Kwame? Can you please explain how you found the slope?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9496911

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