Question
Suppose Aidan and Biden now trade on the basis of their endowments. How can I show a price ratio (budget constraint) and Pareto efficient allocation
Suppose Aidan and Biden now trade on the basis of their endowments. How can I show a price ratio (budget constraint) and Pareto efficient allocation in the new equilibrium and how equilibrium prices might emerge?
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Economics
Authors: R. Glenn Hubbard, Anthony Patrick O Brien
7th edition
134738314, 9780134738116 , 978-0134738321
