True or false? In a 2-person economy, if the endowment is on the contract curve, there exists no exchange (exchange = some strictly positive quantity of at least one good changes hand) that could lead to both consumers reaching higher utility (strictly higher for at least one of them). True. O False.

True or false? In a 2-person economy, if the endowment is on the contract curve, there exists no exchange (exchange = some strictly positive quantity of at least one good changes hand) that could lead to both consumers reaching higher utility (strictly higher for at least one of them). True. O False.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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