25.3 Suppose an economy is characterized by a linear production possibility function for its two goods (Xand Y) of the form X+ 2F = 180.

There are two individuals in this economy, each with an identical utility function for X and Y of the form U(X, Y)= VXY.

a. Suppose Y production is set at 10. What would the utility possibility frontier for this economy be?

b. Suppose Y production is set at 30. What would the utility possibility frontier be?

c. How should F production be chosen so as to ensure the "best" utility possibility frontier?

d. Under what conditions (contrary to those of this problem) might your answer to part (c)

depend on the point on the utility possibility frontier being considered?