Consider a two good, two individual endowment economy. Suppose that individual A's endowment is given by (e^, e^) and individual B's endowment is given by (e̱e, e³). Also assume individual A's preferences are given by: and individual B's preferences are given by: UA (xA, YA) = a log(xд) + (1 − a) log(YA) UB (XB,YB) = log(xB) + (1 − y) log(YB). Consider the following social welfare function: O AUA (xA, YA) + BUB (XB,YB) · We can interpret this as a social planner that wishes to allocate the economy's endowment between the two individuals. ¿ is descriptive of how important individual i is to the social planner, i = {A, B}. Therefore, a large value of 0; indicates to us that the social planner gives a lot of weight to individual i, while the reverse is true if 0; is small. The social planner's problem is to maximize society's welfare by allocating consumption among the two individuals. The solution will be a Pareto optimum. We can obtain all possible Pareto optima by varying the weights of the problem.

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please  only do: if you can teach explain steps of how to solve each part of formula ? x(p,w)={(2w/3p1,w/3p1) if p1<p2(2w/3p1,w/3p2) if p1≥p2 ? how to solve  for this

QUESTION 1 x0.80Qy(1-0.80); and the budget 153 = 11Qx + 12Qy find the CHANGE in optimal consumption of X if the price of X increases by a factor of 1.9. as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 1.2, 1.14 = 1.1). Qx For the utility function U = Please enter your response

For the utility function U=Qx0.370,(1-0.37) and the budget 194 140x+6Qy find the CHANGE in optimal consumption of X if income increases by a factor of 1.4. Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 1.2, 1.14=1.1).

For example, the economy of a country can be explained by several models as follows: Consumer: The consumer derives his satisfaction from his current consumption, future consumption and his free time (u(C,C',l,l'). He maximizes his utility by: C+wl+11+rC'+w'1+rl'=wh+π-T+w'h+'-T'1+r It is assumed that consumer preferences meet the general conditions that are often used (more is better, preference for diversity, all goods are normal, substitution effect is more dominant). Firm: In the first period, the firm has K capital and employs N workers to produce Y output: Y outputs: Y=zF(K,N) The profit in the first period is =Y-wN-I Where I is the company's investment. Investments increase the capital stock for the second period: K'=1-dK+I In the second period the firm will produce output of Y': Y'=z'F(K',N') Then the profits obtained in the second period are: '=Y'-w'N' Firms choose the demand for labor (N, N') and the demand for investment I to maximize their value: V=π+π'1-r…

Use Lagrange multipliers to find expressions for x, and x₂ which maximise the utility function U = x/² + x1/² subject to the general budgetary constraint P₁x₁ + P₂x₂ = M

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Consider the following consumer’s problem:                                                      max u(c1 ) + βu(c2)                                                     c1c2 subject to c1 + s1 = y1 c2 = y2 + (1 + r)s1 u(c)={1/(1-1/σ}c1-1/σ a) Describe all equations using economic terminology.b) Derive the intertemporal budget constraint for this consumer.c) Set the Langrangean for this problem.d) Find the first order conditions for a maximum.e) What is the effect of an increase in the interest rate on savings? Show in equation and explain.