Consider model of team production in which total incomearrow

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Consider the model of team production in which total incomearrow-10x10.png is four times the total amount of effort supplied. there are two individuals on the team and each individuals on the team and each individual i has the utility function u(x,y)=x^2y and time t=24 a) determine the bundle (x.y) that maximizes persons utility 1's utility subject to the production technology constraint and the requirement that the partners wind up with identical utility levels b)determine the partnership equilibrium. Make sure you identify the amount of each good consumed by each person

Reference no: EM13743170

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