What is the pareto optimum

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Suppose the ?rm has the production function c = max")7 4(x/i - 1)}. Suppose the consumer has preferences represented by MC, 1) = 0- 6-1512 and that total time is not a constraint.

1. What is the Pareto Optimum in this economy?

2. What is the Walrasian Equilibrium in this Economy, if there is one?

Reference no: EM133066495

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