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Kindly help me solve the following Consider a pure exchange economy with two consumers and two goods. Total endowments of the two goods are given

Kindly help me solve the following

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Consider a pure exchange economy with two consumers and two goods. Total endowments of the two goods are given by X=10 and Y=20. Consumer A's utility function is given by UA(XA,YA)=sqrtXAYA Consumer B regards the two goods as perfect substitutes with MRS=2 (1) Find the contract curve for this economy.. (2) Suppose the initial endowments are given as the following: 2,8), (X4 YA)=(2,8) (Xp Yp)=(8 12). Find the set of Pareto efficient allocations that Pareto dominate the endowment poinQ4. (a) Claim amounts on a portfolio of insurance policies follow a Weibull distribution. The median claim amount is f1,000 and 90% of claims are less than $5,000 Estimate the parameters of the Weibull distribution, using the method of moments (b) The matrix below shows the losses to Player A in a two player zero sum game The strategies for Player A are denoted by I, II, III and IV. Player A I II III IV -10 -6 -3 Player B 2 -3 -7 -9 (i) Determine the values of X and Y for which there are dominated strategies for player A. (ii) Determine whether there exist values of X and Y which give rise to a saddle point.Question 4 (10 marks) [Parts (a) and (b) are NOT related to each other.] (a) Consider the following matrix of a 4 X 3 two-person zero-sum game between Ada and Betty, where the positive payoffs represent losses of Ada and the negative payoffs represent losses of Betty: Ada Al A2 A3 BI -4 2 5 B2 2 -4 -3 Betty B3 3 -6 1-2 B4 -3 8 6 (1) Explain carefully why Betty will never use B4 as her strategy. Hence, reduce the above game to a 3*3 matrix. [3] (ii) Reduce the game obtained in part (a) to a 2 x 2 matrix using similar principle as that used in part (a). [!] (b) Consider the following 3 x 3 two-person zero-sum game between players A and B, where the positive payoffs represent losses of player A and the negative payoffs represent losses of player B: A Al HA2 A3 BI 5 2 -4 B B2 3 6 B3 7(i) Explain carefully why Betty will never use B4 as her strategy. Hence, reduce the above game to a 3x3 matrix. [3] (ii) Reduce the game obtained in part (a) to a 2 x 2 matrix using similar principle as that used in part (a). [1] (b) Consider the following 3 X 3 two-person zero-sum game between players A and B, where the positive payoffs represent losses of player A and the negative payoffs represent losses of player B Al A2 A3 BI 5 2 -4 B2 6 N W R3 (1) Prove that the above matrix has a stable solution. [3] Hence, find the corresponding strategies for the two players. [2] (ill) Determine the value of the game

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