Question
Frances and Francis trade between themselves. Frances's utility function is u(x, y) = x+154y/2, Francis's utility function is u(x, y) = + 7y. At
Frances and Francis trade between themselves. Frances's utility function is u(x, y) = x+154y/2, Francis's utility function is u(x, y) = + 7y. At a Pareto optimal allocation in which both individuals consume a positive quantity of each good, how much y does Frances consume?
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
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