This topic contains a solution. Click here to go to the answer

Author Question: Suppose two coffee snobs who must have their coffee and cream in exact proportions (each cup is 10 ... (Read 76 times)

brutforce

  • Hero Member
  • *****
  • Posts: 540
Suppose two coffee snobs who must have their coffee and cream in exact proportions (each cup is 10 coffee per 1 unit cream) are invited to a weekend long event (during which they can easily consume 8 cups of coffee). Suppose Snob A is given 8 units of cream and Snob B is given 80 units of coffee. The contract curve in the Edgeworth box would be
 a. a right angle connecting the lower left corner with the upper right corner.
  b. a curve (not a line) connecting the lower left corner with the upper right corner.
  c. a line connecting the lower left corner with the upper right corner.
  d. a right angle connecting the upper left corner with the lower right corner.

Question 2

Suppose the Economics Department has a graduation party for its students but as a final test they must show they have learned something about trade. The men are given food when they walk in and the women are given drink. Suppose they have very different preferences where food and drink provide utility. For men U = FD . For women U=min(F,D) The contract curve in the Edgeworth box using a representative man and woman would be
 a. a right angle connecting the lower left corner with the upper right corner.
  b. a curve (not necessarily a line) connecting the lower left corner with the upper right corner.
  c. a line connecting the lower left corner with the upper right corner.
  d. a right angle connecting the upper left corner with the lower right corner.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

TDubDCFL

  • Sr. Member
  • ****
  • Posts: 357
Answer to Question 1

c

Answer to Question 2

c




brutforce

  • Member
  • Posts: 540
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)


milbourne11

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

For a complete list of videos, visit our video library