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Consider a consumer in a two period economy. Denote consumption goods as 01 and Cg. Suppose that this consumer has an endowment of (6, 0).
Consider a consumer in a two period economy. Denote consumption goods as 01 and Cg. Suppose that this consumer has an endowment of (6, 0). Suppose that this consumer has access to markets (where goods 1 and 2 are traded for one another) and that the price ratio m1+n (a) Assume that this consumer also has access to a technology which allows her to transform 331 units of the period 1 good into 2172 = (/3: units of period 2 good. State the consumer's budget set/budget line. (b) Now assume that a prot maximizing rm operates this technology and that the consumer owns the rm. State the consumer's budget set /budget line in this case
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