User Account

All Pages

Draw an edgeworth box in detail

Assignment Help Microeconomics
Reference no: EM132131380

Question: 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.

Reference no: EM132131380

Questions Cloud

What is the total tax revenue : You know that total income in a geographical area containing 100 individuals is $5,000,000. Assuming that all 100 individuals have an income.
Explain the philosophy of agile project management : Compare and contrast task management and team management. Include an example of each on how each management concept is best used.
What happened to the real gdp per person : Suppose that twenty-five years ago a country had nominal GDP of $1,800, a GDP deflator of 150, and a population of 100. Today it has nominal GDP of $2,800.
Describe a human capital management goal : Describe a human capital management goal that Shawn can recommend to change the global organizational culture of AGC
Draw an edgeworth box in detail : 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.
How does this charter differ from that of the fed : The statutes of the recently established European Central Bank (ECB) state that its primary objective - How does this charter differ from that of the Fed
How does your answer change : Suppose there are two consumers, labeled 1 and 2, each of whom has a dollar of money income which can be spent on either private good x or public good g.
Provide information about americans doing business in india : Use at least 3-5 citations to provide information about Americans doing business in India
How does strategic positioning benefit a firm : How does strategic positioning benefit a firm? Discuss the importance of advertising, branding, and the effect of both on the product's demand curve

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd