An Edgeworth box is shown for individuals M and N. In total, there are 100 units of good 'X and 80 units of good Y' available. The endowment point 'A' represents the initial allocation of these two goods to individuals M and N. A price line is shown passing through points 'A', "B", and 'C' that represents a given relative price, * = 6/9. 50 38 15 42 60 Good X

An Edgeworth box is shown for individuals M and N. In total, there are 100 units of good 'X and 80 units of good Y' available. The endowment point 'A' represents the initial allocation of these two goods to individuals M and N. A price line is shown passing through points 'A', "B", and 'C' that represents a given relative price, * = 6/9. 50 38 15 42 60 Good X

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1.The price leads to an outcome that is not competitive equilibrium because there is

2. Given tha outcome that is not competitive equilibrium,we expect price ratio to chnage

An Edgeworth box is shown for individuals Mand N.
In total, there are 100 units of good 'X and 80 units of good Y' available. The endowment point 'A' represents the
initial allocation of these two goods to individuals M and N. A price line is shown passing through points 'A', "B"',
and 'C' that represents a given relative price,
* = 6/9.
50
B
38
42
60 ?
Good X
C.
ApooD

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