Suppose there are two consumers, A and B. There are two goods, X and Y. There is a TOTAL of 9 units of X and a TOTAL of 9 units of Y. The consumers' utility functions are given by: UA(X,Y) = 3X + Y %3D UB(X,Y) = X2•Y For Each of the following allocations, answer True if it is Pareto Efficient, and False if it is not Pareto Efficient. [ Select ] Allocation A: Consumer A gets X = 7 and Y =6; Consumer B gets X 2 and Y = 3. [ Select ] Allocation B: Consumer A gets X = 6 and Y =7; Consumer B gets X 3 and Y = 2 %3D [ Select ] Allocation C: Consumer A gets X = 2 and Y =0; Consumer B gets X = 7 and Y = 9 %3D [ Select ] v Allocation D: Consumer A gets X = 1 and Y =0; Consumer B gets X 8 and Y = 9 %3D
Suppose there are two consumers, A and B. There are two goods, X and Y. There is a TOTAL of 9 units of X and a TOTAL of 9 units of Y. The consumers' utility functions are given by: UA(X,Y) = 3X + Y %3D UB(X,Y) = X2•Y For Each of the following allocations, answer True if it is Pareto Efficient, and False if it is not Pareto Efficient. [ Select ] Allocation A: Consumer A gets X = 7 and Y =6; Consumer B gets X 2 and Y = 3. [ Select ] Allocation B: Consumer A gets X = 6 and Y =7; Consumer B gets X 3 and Y = 2 %3D [ Select ] Allocation C: Consumer A gets X = 2 and Y =0; Consumer B gets X = 7 and Y = 9 %3D [ Select ] v Allocation D: Consumer A gets X = 1 and Y =0; Consumer B gets X 8 and Y = 9 %3D
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 6QFR
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Economic
![Suppose there are two consumers, A and B. There are two goods, X and Y.
There is a TOTAL of 9 units of X and a TOTAL of 9 units of Y. The consumers'
utility functions are given by:
UA(X,Y) = 3X + Y
UB(X,Y) = X2 Y
For Each of the following allocations, answer True if it is Pareto Efficient, and
False if it is not Pareto Efficient.
[ Select ]
Allocation A: Consumer A gets X = 7 and Y
=6; Consumer B gets X = 2 and Y = 3.
[ Select ]
Allocation B: Consumer A gets X = 6 and Y =7;
!3!
Consumer B gets X = 3 and Y = 2
%3D
[ Select ]
Allocation C: Consumer A gets X = 2 and Y =0;
Consumer B gets X = 7 and Y = 9
[ Select ]
v Allocation D: Consumer A gets X = 1 and Y =0;
Consumer B gets X = 8 and Y = 9](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4c074d7a-1aea-4a59-af4b-3566192c9c66%2Fe2f3ea87-3327-4ae6-aad3-c6768b839148%2F7nmxnl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose there are two consumers, A and B. There are two goods, X and Y.
There is a TOTAL of 9 units of X and a TOTAL of 9 units of Y. The consumers'
utility functions are given by:
UA(X,Y) = 3X + Y
UB(X,Y) = X2 Y
For Each of the following allocations, answer True if it is Pareto Efficient, and
False if it is not Pareto Efficient.
[ Select ]
Allocation A: Consumer A gets X = 7 and Y
=6; Consumer B gets X = 2 and Y = 3.
[ Select ]
Allocation B: Consumer A gets X = 6 and Y =7;
!3!
Consumer B gets X = 3 and Y = 2
%3D
[ Select ]
Allocation C: Consumer A gets X = 2 and Y =0;
Consumer B gets X = 7 and Y = 9
[ Select ]
v Allocation D: Consumer A gets X = 1 and Y =0;
Consumer B gets X = 8 and Y = 9
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