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Assume a society consists of two consumers A and B, and two goods, Xl and X2, constituting the total endowment, X, in this simple
Assume a society consists of two consumers A and B, and two goods, Xl and X2, constituting the total endowment, X, in this simple economy Derive the efficiency in exchange condition and provide the economic intuition behindit Hint: Start by setting up the utility maximization problem (4)
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