Economics question
1.2 Exchange with two divisible goods and core convergent1. consider two individuals (1 and 2) with preferences over goods x and y described by their respective utility functions
1 = x1y1U2 = x2 y2The two traders have initial endowments of the two goods w1 = (9, 1) and w2 = (2, 6).(a) carefully draw an edgeworth box to represent the economy. Is the original endowment efficient?Please help me as I cannot draw the edgeworth box?
1 = x1y1U2 = x2 y2The two traders have initial endowments of the two goods w1 = (9, 1) and w2 = (2, 6).(a) carefully draw an edgeworth box to represent the economy. Is the original endowment efficient?Please help me as I cannot draw the edgeworth box?Quick Reply
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