Draw an edgeworth box containing an endowment point

Reference no: EM131250701

Draw an Edgeworth box containing an endowment point and a budget line

a) Draw an indifference curve for George and an indifference curve for Harriet, both tangent to the budget line, such that George wants to buy ale, Harriet wants to sell ale, and George wants to buy more ale than Harriet wants to sell.

b) Draw two indifference curves, both tangent to the budget line, such that George and Harriet both want to buy ale.

c) Draw two indifference curves, both tangent to the budget line, such that the current price is market-clearing but no goods are traded.

Reference no: EM131250701

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