Question
Person A and Person B have the utility function for X and Y: U = ln(X) + ln(Y). Person A is given 10 units of
Person A and Person B have the utility function for X and Y: U = ln(X) + ln(Y). Person A is given 10 units of X and 5 units of Y. Person B is given just 5 units of Y.
If person A gave a take it or leave it offer to person B, what would be the outcome?
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International Economics
Authors: Dominick Salvatore
11th edition
978-1118177938, 1118177932, 1119915732, 978-1118476017, 1118476018, 978-1119915737
