What are the minimum and maximum possible amounts

Reference no: EM131880869

Problem

In an exchange economy there are two people (A and B), and two goods (x₁ and x₂). Their respective utility functions and endowments are: U^A(x₁^A, x₂^A) = 3x₁^A + x₂^A, U^B(x₁^B, x₂^B) = x₁^B + 3x₂^B, ?^A= (³/₂,³/₂), ?^B= (³/₂,³/₂). What are the minimum and maximum possible amounts of x₁^Ain the core?

Reference no: EM131880869

Questions Cloud

Find the standardized test statistic : 1. Use a chi squared ?2?-test to test the claim sigma squared equals s2 = 0.53 at the a = 0.05 significance level using sample statistics s2 = 0.539 and n = 21.

Describe each components of presentence investigation report : Describe each of the components of a presentence investigation report and why each of those components needs to be included for judge to make informed decision

What is the total amount of depreciation expense : Boone Company purchased a piece of machinery by paying $5,000 cash. In addition to the purchase price, the company incurred $100 freight charges.

Computing the highest relative position : Which score has the highest relative position: a score of 58 on a test for which the mean is 45 and the s= 10, a score of 5.0 on a test

What are the minimum and maximum possible amounts : In an exchange economy there are two people (A and B), and two goods (x1 and x2). What are the minimum and maximum possible amounts of x1Ain the core?

What are the regional dialects in the united states : Which are the main branches of the Indo-European language family, and which has with the largest number of speakers?

Minimum and maximum unusual hip breadths : What are the z scored that separate the unusual hip breaths from the usual? What are the minimum and maximum unusual hip breadths?

Why are we still blaming victims of sexual assault : In your opinion, why are we still blaming victims of sexual assault rather than focusing the blame on the perpetrators

Describe ways a taxpayer can avoid a tax audit : Identify and describe ways a taxpayer can avoid a tax audit. Write at least one-half but not more than 1 double spaced page.

User Account

All Pages