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u₁(x11, X12) = max{4,min{x₁1, X12}}, @₁ = (7,7) ; u₂(x21,X22) = 5x21x22, W2 = (1 Individual 1's consumption in a Pareto

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u₁(x11, X12) = max{4,min{x₁1, X12}}, @₁ = (7,7) ; u₂(x21,X22) = 5x21x22, W2 = (1 Individual 1's consumption in a Pareto

Posted: Fri Jul 01, 2022 7:56 am
by answerhappygod
U X11 X12 Max 4 Min X 1 X12 7 7 U X21 X22 5x21x22 W2 1 Individual 1 S Consumption In A Pareto 1
U X11 X12 Max 4 Min X 1 X12 7 7 U X21 X22 5x21x22 W2 1 Individual 1 S Consumption In A Pareto 1 (14.86 KiB) Viewed 19 times
u₁(x11, X12) = max{4,min{x₁1, X12}}, @₁ = (7,7) ; u₂(x21,X22) = 5x21x22, W2 = (1 Individual 1's consumption in a Pareto efficient allocation with u₁=4: (A) (4,4) (B) (7,4) (C) (0,0) (D) Does not exist
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