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CAN YOU TEACH HOW TO GET AN ANSWER FOR THIS TYPE OF QUESTION? 4. $100 is to be divided up between two DMs who each

CAN YOU TEACH HOW TO GET AN ANSWER FOR THIS TYPE OF QUESTION?

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4. $100 is to be divided up between two DMs who each enjoy getting money, but dislike the other getting money. Dene 901 as the amount of money going to individual 1 and :62 as the amount going to individual 2. (a) Illustrate possible indifference curves for DMZ with 331 on the hori- zontal axis and $2 on the vertical axis. In addition, draw an arrow indicating the direction of improvement. (b) Suppose instead that DMZ prefers more rather than less money going to DMl. Draw indifference curves relevant to this case. In addition, draw an arrow indicating the direction of improvement

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