15. Chris and Pat like both beer and pizza. Chris views pizza and beer as perfect one-to-one...

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15. Chris and Pat like both beer and pizza. Chris views pizza and beer as perfect one-to-one substitutes.

Pat believes that beer and pizza are perfect complements, and always consumes them in one-to-one proportions.

a. Construct an Edgeworth box for Chris and Pat.

b. Derive the contract curve for Chris and Pat.

What shape will it take?

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Microeconomics

ISBN: 9780716759751

1st Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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Question Posted: Oct 16, 2024 02:03 AM

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15. Chris and Pat like both beer and pizza. Chris views pizza and beer as perfect one-to-one...

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Microeconomics

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