* ll. Problem Set 5_fd43647a4d75f... > Problem Set 5 QUESTION 1 – Multiple choices Bruce AI i) The above figure depicts the Edge worth box for two individuals, A and B. If the endowment is at point a, and trade is possible, which of the following points are possible equilibrium? A) points a, b, c and d B) points a and b C) points b and d D) points a and c E) points c and d (ii) The above figure depicts the Edgeworth box for two individuals, A and B. The contract curve can be found by connecting points A) a and b. B) c and d. C) b and d. D) a and c. iii) The above figure depicts the Edgeworth box for two individuals, A and B. Considering only the labeled points, point c is a possible equilibrium A) only if it is the endowment. B) only if point a is the endowment. C) only if point d is the endowment. D) if either point a or b is the endowment.

* ll. Problem Set 5_fd43647a4d75f... > Problem Set 5 QUESTION 1 – Multiple choices Bruce AI i) The above figure depicts the Edge worth box for two individuals, A and B. If the endowment is at point a, and trade is possible, which of the following points are possible equilibrium? A) points a, b, c and d B) points a and b C) points b and d D) points a and c E) points c and d (ii) The above figure depicts the Edgeworth box for two individuals, A and B. The contract curve can be found by connecting points A) a and b. B) c and d. C) b and d. D) a and c. iii) The above figure depicts the Edgeworth box for two individuals, A and B. Considering only the labeled points, point c is a possible equilibrium A) only if it is the endowment. B) only if point a is the endowment. C) only if point d is the endowment. D) if either point a or b is the endowment.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter13: General Equilibrium And Welfare

Section: Chapter Questions

Problem 13.1P

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