Explain why every allocation is pareto efficient

Reference no: EM132200427

Question: Your airplane crashes in the Atlantic Ocean. You land on a desert island with one other passenger. A box containing 50 little bags of peanuts also washes up on the island. The peanuts are the only thing to eat. in this economy with two people, one commodity, and no production, represent the possible allocations in a diagram, and explain why every allocation is Pareto efficient. Is every allocation fair?

Reference no: EM132200427

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