1. How should goods and/or factors be allocation when there is an inequality? Explain mathematically through formula and in words: a. MRS of individual A is greater than MRS of individual B. How to reallocate X and Y? b. MRTS of good X is greater than MRTS of good Y. How to reallocate L and K? c. Overall MRS is greater than MRT. How to reallocate X and Y?

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