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

Find real interest rate and nominal interest rate, #questionAssume that an ...

#questionAssume that an economy''s GDP Y=5000. Also assume that the government runs a deficit where tax revenue T=1000 and government expendituresG= 1500. The consumption function

Wages, Subsistence theory of wage determination

Subsistence theory of wage determination

Unemployment, Find the labor force, the working-age population, the number ...

Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers. Unemployment rate 5.60 % Participation rate 62.50

Calculate the overall efficiency and operating cost, A company is consideri...

A company is considering investing in power generation. It wants to setup a 1000 MW power generation system. The company hired you as a consultant to explore different options for

Mercantilist economists, Evaluate the mercantilist economists. Determine wh...

Evaluate the mercantilist economists. Determine which economist you feel made the most significant contribution to economic theory. Provide at least two (2) reasons to support your

Show the different kinds of unemployment, Q. Show the Different kinds of un...

Q. Show the Different kinds of unemployment? All unemployed individuals are presumed to belong to exactly one of these categories so that if we sum unemployment from each categ

Granger causality, With the aim of this project to observe the impact of oi...

With the aim of this project to observe the impact of oil price shocks on macroeconomic indicators, testing for causality between these variables will establish whether or not, oil

World leaders to be part of a team, You have been invited by world leaders ...

You have been invited by world leaders to be part of a team of international economists selected to make recommendations on how the international community might work together more

Unemployment classification, Unemployment classification Economists som...

Unemployment classification Economists sometimes differentiate between different types of unemployment. There are many type of ways of classifying unemployment however the foll

What is independent monetary policy, What is independent monetary policy ...

What is independent monetary policy Advantages: First, in a freely-floating exchange rate, the exchange rate must move down or up to correct a payments imbalance. Second, monet

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