d) Solve for the contract curve and graph it. (Hint: Remember, the MRS = MUX1/MUX2, where MU is Marginal Utility. The contract curve, MRSA = MRSB. %3D Compute this, then impose the restriction that total consumption of X, should equal the total units of X, available, and do the same for X2. Rearrange to get an equation of X2 as a function of X,)

d) Solve for the contract curve and graph it. (Hint: Remember, the MRS = MUX1/MUX2, where MU is Marginal Utility. The contract curve, MRSA = MRSB. %3D Compute this, then impose the restriction that total consumption of X, should equal the total units of X, available, and do the same for X2. Rearrange to get an equation of X2 as a function of 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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