In an exchange economy there are two people (A and B), and two goods (x and y). Their respective utility functions and endowments are: UA(xA, YA) = 6xA + YA, UB(xB,YB) = xB+6YB; WA = WB = (10, 10). What is the minimum possible amounts of XA in the core? Round your answer to 2 decimal points. Answer:
In an exchange economy there are two people (A and B), and two goods (x and y). Their respective utility functions and endowments are: UA(xA, YA) = 6xA + YA, UB(xB,YB) = xB+6YB; WA = WB = (10, 10). What is the minimum possible amounts of XA in the core? Round your answer to 2 decimal points. Answer:
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![In an exchange economy there are two people (A and B), and two goods (x and Y). Their respective utility
functions and endowments are: UA(xA, YA) = 6xA + YA ,
UB(XB, YB)
(10, 10). What is the minimum possible amounts of XA in the core? Round your answer to 2
= xB + 6yB;
WA = WB =
decimal points.
Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb553ece9-b82a-433c-96a1-e85ef2808a31%2Ffe4b18db-744f-4eb4-974e-44fa4f1fb199%2Fvn6kru_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In an exchange economy there are two people (A and B), and two goods (x and Y). Their respective utility
functions and endowments are: UA(xA, YA) = 6xA + YA ,
UB(XB, YB)
(10, 10). What is the minimum possible amounts of XA in the core? Round your answer to 2
= xB + 6yB;
WA = WB =
decimal points.
Answer:
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