Suppose there is a two-person and two goods pure exchange, Ask an Expert

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Suppose there is a two-person and two goods pure exchange economy in which both persons have the same, strictly convex utility function and their utilities are increasing in their consumption of both goods . Would an allocation where one person has all from each of the two goods and the other person has nothing be Pareto-optimal ?why or why not? Illiterate your answer using an Edgeworth box.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92199115

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