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please help me You consider a problem of allocating fish (f) and yarn skeins (y) to Momo and Qiqi, whose utility functions are given as

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You consider a problem of allocating fish (f) and yarn skeins (y) to Momo and Qiqi, whose utility functions are given as below. Momo: UM(fM, VM) = In (fMyM) Qiqi: U.(fQ yQ) = Jfeye We know there is a market for fish, and a market for yarn skeins. Both markets are perfectly competitive, where Momo and Qiqi are price takers. We denote the price of fish by pf and the price of yarn skeins by Py- A firm produces yarn skeins using fish, or fish using yarn skeins. The technology is represented by the following total cost function. Total Cost = f2 + y2, where f = fm + fo and y = ym + yo- 1. Find Momo and Qiqi's MRS of fish for yarn skeins. 2. Explain why their choice of fish and yarn skeins will satisfy MRSfy = 1 to maximize utility. 3. Find MRT from the given technology. 4. Explain why the firm's choice of fish and yarn skeins will satisfy MRTry = - to maximize profit. 5. Explain how the competitive market leads to a Pareto efficient allocation in this example. 6. What's the relationship between py and py at the equilibrium? How about f, y, fm, fo. YM, and yo

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