ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question

1.The price leads to an outcome that is not competitive equilibrium because there is

2. Given tha outcome that is not competitive equilibrium,we expect price ratio to chnage

 

An Edgeworth box is shown for individuals Mand N. In total, there are 100 units of good 'X and 80 units of good Y' available. The endowment point 'A' represents the initial allocation of these two goods to individuals M and N. A price line is shown passing through points 'A', "B"', and 'C' that represents a given relative price, * = 6/9. 50 B 38 42 60 ? Good X C. ApooD
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Transcribed Image Text:An Edgeworth box is shown for individuals Mand N. In total, there are 100 units of good 'X and 80 units of good Y' available. The endowment point 'A' represents the initial allocation of these two goods to individuals M and N. A price line is shown passing through points 'A', "B"', and 'C' that represents a given relative price, * = 6/9. 50 B 38 42 60 ? Good X C. ApooD
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