Consider a pure exchange economy without free disposal (i.e. agents cannot get rid of their goods) and with two commodities, j = 1, 2; and two traders i = I, II. Each trader i has the consumption set R 2 + and the endowments are given by e = (eI , eII ) = ((0, 8),(10, 0)). The preference relations of traders are given by the following utility functions uI (xI,1, xI,2) = min{2xI,1 + xI,2, 3xI,2}; uII (xII,1, xII,2) = min{3xII,1 + xII,2, xII,1 + 3xII,2}. A)Characterize the set of Weakly Pareto optimal allocations and Pareto optimal allocations and core allocations. B. Characterize the demand correspondences of these traders and identify the competitive equilibrium prices and allocations. If there is none, show why. C. Determine whether or not the conclusion of the first fundamental theorem of welfare economics holds. I.e. is every competitive equilibrium allocation Pareto optimal? How about the core? Is every competitive equilibrium allocation in the core? D. Determine whether or not the conclusion of the second fundamental theorem of welfare economics holds. I.e. can we support every Pareto optimal allocation as a competitive equilibrium allocation of an economy obtained via a feasible redistribution of the initial endowments?

1. Most decision-making that relates to the day-to-day running of an organization is non- programmed decision making. (1 Point) O True O False 2. The 'most appropriate' decision is also called 'Satisficing decision'. (1 Point) True O False 3. The probability of a manager making an error in judgment is much greater in nonprogrammed decision-making than in programmed decision-making. (1 Point) O true O FalseConsidering all decision making models, components of a decision making system health leaders can utilize could be: a) push standard, routine decisions down to lowest possible staff level. (b) reduce decision load by blocking time. c) train all organizational members on the decision making system. d) push standard, routine decisions down to lowest possible staff level and train all organizational members on the decision making system. e) None of these is correct.1. What is the meaning of the central limit theorem for means, and the central limit theorem for proportions? When and how are they used? Compare and contrast the central limit theorem for means vs. the central limit theorem for proportions. Include at least one similarity, and one difference