Consider an economy with two consumers A and B and two goods 1 and 2. The utilities of the consumers are given by: uд(x, x) = x^x^ and u¸ (x, x²) = xỉ x² Their initial endowments are (w₁, w^) = (30,300) and (w₁, w₁) = (170, 100) If the two consumers exchange goods with each other in the course of trade, what is their equilibrium allocation? a. (x, x) = (150, 150), (x, x) = (50, 250) O b. None of the other responses is correct Oc. (x, x) = (75, 125), (x, x) = (125,275) Od. (x, x)=(30, 300), (x,x) = (170, 100) Oe. (x,x) (100, 200), (x, x) = (100,200) Of. (x, x) = (50, 200), (x, x) = (150,200) Og. (x, x)=(60, 100), (x, x) = (140, 300) Oh. (x,x)=(150, 180), (x,x) = (50,220) O i. (x, x) = = (90, 180), (x, x) = (110,220)

Consider an economy with two consumers A and B and two goods 1 and 2. The utilities of the consumers are given by: uд(x, x) = x^x^ and u¸ (x, x²) = xỉ x² Their initial endowments are (w₁, w^) = (30,300) and (w₁, w₁) = (170, 100) If the two consumers exchange goods with each other in the course of trade, what is their equilibrium allocation? a. (x, x) = (150, 150), (x, x) = (50, 250) O b. None of the other responses is correct Oc. (x, x) = (75, 125), (x, x) = (125,275) Od. (x, x)=(30, 300), (x,x) = (170, 100) Oe. (x,x) (100, 200), (x, x) = (100,200) Of. (x, x) = (50, 200), (x, x) = (150,200) Og. (x, x)=(60, 100), (x, x) = (140, 300) Oh. (x,x)=(150, 180), (x,x) = (50,220) O i. (x, x) = = (90, 180), (x, x) = (110,220)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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