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2 1. There are two consumers with the following utility functions and en- dowments; UI (21, 12) = 201 + 12 and w1 = (1,6),
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1. There are two consumers with the following utility functions and en- dowments; UI (21, 12) = 201 + 12 and w1 = (1,6), u2 (21, 12) = 01 + 12 and w2 = (3, 4). (a) Find the set of Pareto efficient allocations? (b) Find the set of Pareto efficient allocations that can be realized with voluntary tradeStep by Step Solution
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