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Consider an Exchange economy composed of two individuals A and B and two goodsx1 and x2 Individual A has an endowment of W and individual B has an endowment of

Consider an Exchange economy composed of two individuals A and B and two goodsx1 and x2. Individual A has an endowment of W(3,5) and individual B has an endowment of Wa^- (3,3). A's utility function is given byUA Xx2. Suppose that B is neutral about x1 (neither increasing nor decreasing the amount of x1 affects her utility) and she prefers more of x2 to less. Specifv a utility function for B. Eind the equilibrium price and allocations

May 02 2020 View more View Less

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