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Consider a one-consumer one-firm economy in whichu(x) =x z +x q ,= 1 andf(z) =ln (z+ 1), where 1 < <2 is a parameter. Illustrate
Consider a one-consumer one-firm economy in whichu(x) =xz+xq,= 1 andf(z) =ln (z+ 1), where 1< <2 is a parameter.
- Illustrate this economy within an Edgeworth Box
- Derive a competitive equilibrium for this economy
- Derive the Pareto Set
- How do the answers from "2" and "3" depend on ""?
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Issues in Economics Today
Authors: Robert C. Guell
8th edition
1259746399, 1259746390, 978-1259746390
