Question
1. You have an avocado tree, which grows 400 avocados this year, 150 next year. Your neighbor has an avocado tree, which grows 0 avocados
1. You have an avocado tree, which grows 400 avocados this year, 150 next year. Your neighbor has an avocado tree, which grows 0 avocados this year, 50 next year. The equilibrium exchange rate is "1 today = ? tomo".
2. You have an avocado tree, which grows 200 avocados this year, 100 next year. Your neighbor has an avocado tree, which grows 0 avocados this year, 100 next year. The equilibrium exchange rate is "1 today = ? tomo".
3. You have an avocado tree, which grows 10 avocados this year, 10 next year. Your neighbor has an avocado tree, which grows 0 avocados this year, 50 next year. The equilibrium exchange rate is "1 today = ? tomo".
4. In a hunter-gatherer society lives Adam and Eva. Adam is a hunter and he catches 10 ducks a week. Eva is a gatherer and she gathers 50 berries a week. Both Adam and Eva enjoy eating ducks and berries and have the product happiness function.
Calculate the equilibrium exchange rate "1 duck = ? berries".
5. In a hunter-gatherer society lives Adam and Eva. Adam is a hunter and he catches 20 ducks a week. Eva is a gatherer and she gathers 60 berries a week. Both Adam and Eva enjoy eating ducks and berries and have the product happiness function.
Calculate the equilibrium exchange rate "1 duck = ? berries".
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