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8 Suppose Lan's utility function is UL (x,y) =xLⓇYL® and Dan's utility function is Up(x,y) =xDºyD², where x; and y; deno
Posted: Wed Mar 09, 2022 8:32 am
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- 8 Suppose Lan S Utility Function Is Ul X Y Xl Yl And Dan S Utility Function Is Up X Y Xdoyd Where X And Y Deno 1 (50.03 KiB) Viewed 29 times
8 Suppose Lan's utility function is UL (x,y) =xLⓇYL® and Dan's utility function is Up(x,y) =xDºyD², where x; and y; denote respectively the amount of good X and of good Y consumed by person i, i=L, D. A total of 34 of each good is available and it is to be divided efficiently between Lan and Dan. How many units of good X should Lan get if we give Dan 17 units of good Y such that the allocation is efficient? Enter the amount of good X below. Answer: