George and harriet, Macroeconomics

Assignment Help:

Consider an economy in which George and Harriet consume only ale and bread. George's utility function is UG = aG(bG- 1) where aG and bG are his consumption of ale and bread. Harriet's utility function is UH = ((aH)^(2))(bH- 1) where aH and bH are her consumption of ale and bread. George is endowed with one unit of ale and one unit of bread. Harriet is endowed with two units of bread but no ale. Using aG as an index, find all of the Pareto optimal allocations.


Related Discussions:- George and harriet

Production function stuff, 1. Given the following production function: ...

1. Given the following production function: Y = K1/4 L3/4 Find the following: a. Per worker production function. b. Steady-state capital-labor ratio as a function of d and

Describe the structural unemployment, Describe the Structural unemployment ...

Describe the Structural unemployment Individuals who are unemployed as their skills are no longer in demand where they live. This kind mainly results in longer spells and may r

EXCHANGE RATES, WHAT IS THE BEST EXCHANGE RATE TYPE

WHAT IS THE BEST EXCHANGE RATE TYPE

Cost reduction, Cost Reduction Positive measures to effect a lowering o...

Cost Reduction Positive measures to effect a lowering of costs include:  reducing national insurance contributions (an  ad valorem  tax on employing labor);

Relate overnight interest rates targets with money supply, Relate Overnight...

Relate Overnight interest rates targets with money supply There are many ways to explain the important connection between the overnight interest rate target and the money suppl

Estimate the probability density function, It is assumed that the hazaed ra...

It is assumed that the hazaed rate for a pressure valve is given by h(t)= 1/5+t. 1. What is the cumulative probability function of failure F(t)? 11. What is probability densi

Inflation, Hello, how to cure inflation, particularly addressing rising foo...

Hello, how to cure inflation, particularly addressing rising food prices thanks Gedanken

Theory of aggregate deman, unplanned changes in inventory are counted as in...

unplanned changes in inventory are counted as inventory spending by firms.say true or false and justify

Determination of all endogenous variables, Determination of all endogenous ...

Determination of all endogenous variables  We can explain how all the endogenous variables are determined in below figure:  Figure: The Keynesian model with the Phillips c

World bank, explain the functions and role of the world bank

explain the functions and role of the world bank

Write Your Message!

Captcha
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!

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