Answer Happy

Posted: **Sun Jul 03, 2022 1:00 pm**

: 3 15 Pts General Equilibrium An Economy Consists Of Two People Both With The Utility Functions U Ry Their Initial 1 (13.87 KiB) Viewed 10 times

3. (15 pts.) General Equilibrium: An economy consists of two people, both with the utility functions u ry. Their initial endowments are (ri, y) = (10, 10) and (22,92) (20,0). Using x as the numeraire good, find the equilibrium price and the bundle each person consumes at equilibrium.