Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
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) =5xA+yA , UB(xB,yB)=xB+5yB; wA=wB=(10,10). What is the minimum possible amounts of xA in the core? Round your answer to 2 decimal points. The answer is 12, please explain.
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