Explain why trade being optimal for both michael and tony

Reference no: EM13236988

Initially, Michael has 10 candy bars and 5 cookies, and Tony has 5 candy bars and 10 cookies. After trading, Michael has 12 candy bars and 3 cookies. In an Edgeworth box, label the initial allocation A and the new allocation B. Draw some indifference curves that are consistent with this trade being optimal for both Michael and Tony.

Reference no: EM13236988

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