Question
If a given allocation in Edgeworth box is characterized by same MRS the: a)The allocation is not Pareto-optimal. b)The two indifference curves are tangent c)The
If a given allocation in Edgeworth box is characterized by same MRS the:
a)The allocation is not Pareto-optimal.
b)The two indifference curves are tangent
c)The two indifference curves are concave.
d)The two indifference curves intersect.
(Refer to graph that I attached please). After trade, production is at point _____ and consumption at point___.
a) A;A
b)B;B
c)A;B
d)B;D
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Macroeconomics Principles and Applications
Authors: Robert e. hall, marc Lieberman
5th edition
1111397465, 9781439038970, 1439038988, 978-1111397463, 143903897X, 9781439038987, 978-1133265238
