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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.
illustrate and discuss the implications of various market structures (competitive and non-competitive)for price determination.
Typical start-up businesses' estimated profit are forecasted as following: State Bad Good Probability 81% 21%
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what is meant by PPF?
determinants of money supply
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