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What is the answer for question 5: in the attachment. Consider an economy with two consumers, Alex and Betty, i = {A, B}, one private
- What is the answer for question 5: in the attachment. Consider an economy with two consumers, Alex and Betty, i = {A, B}, one private good x, and one public good G. Let each consumer have an income M. For simplicity, let the prices of both the public and private good be 1. Additionally, the utility functions of consumer A and B are
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
