Can you do an explanation for this graph please soon as possible. 1. Assume that there are two individuals, A and B. Using the framework discussed in class,graph a scenario where A maximizes her utility by "donating" $10,000 of her income toperson B. Be sure to label your graph accordingly, including the slope of A's budget line.Assume that persons A and B both start out with $50,000 in income. FIGURE 7.2The Optimal IncomeTransfer from anAltruistic PersonAt point C, Franny's MRSbetween her income andZooey's is exactly equal to theabsolute value of the slope ofher budget constraint. Givenher preferences, the best shecan do is give $19,000 of heroriginal $50,000 income toZooey, keeping $31,000 forherself.RING0110 de 50,000wasFranny's incomeTHURTHMIA-THE199ERROdi beac31,000pedimdnoAdsval10,000C29,000TERD12913od yd bommaMenonibba gaib280/21₁B60,000Zooey's income1911 ha

Introduction: Budget constraint: A budget constraint describes all possible combinations of goods…

Answered: Can you do an explanation for this…

Business

Economics

Can you do an explanation for this graph please soon as possible.

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

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Can you do an explanation for this graph please soon as possible.

1. Assume that there are two individuals, A and B. Using the framework discussed in class,
graph a scenario where A maximizes her utility by "donating" $10,000 of her income to
person B. Be sure to label your graph accordingly, including the slope of A's budget line.
Assume that persons A and B both start out with $50,000 in income.

FIGURE 7.2
The Optimal Income
Transfer from an
Altruistic Person
At point C, Franny's MRS
between her income and
Zooey's is exactly equal to the
absolute value of the slope of
her budget constraint. Given
her preferences, the best she
can do is give $19,000 of her
original $50,000 income to
Zooey, keeping $31,000 for
herself.
RING
01
10 de 50,000
was
Franny's income
THURTH
MIA-THE
199
ERRO
di beac
31,000
pedim
dno
Ad
sval
10,000
C
29,000
TER
D
12913
od yd bomma
Menonibba gaib
280/2
1₁
B
60,000
Zooey's income
1911 ha

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