ECON201B 2006 PS1 - Economics 201B 2nd Half - Spring 2006...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem Set 1 Economics 201B 2nd Half - Spring 2006 Due Thursday, 23 March in Lecture ll often be dealing with economies with multiple agents and multiple goods, which can make interpreting subscripts and superscripts somewhat di¢ cult if we&re not all using the same system. Thus, when describing an alloca- tion of goods, please use notation such as x 1 b to indicate, for example, agent b good 1 . That is, let the ±rst subscript identify the good, and the second subscript identify the agent (usually with a letter). Further, denote agent b vector x b . Thank you! 1. Consider Problem (P), indicated below, in an Edgeworth Box economy with individuals a and b and goods 1 and 2 : max x a ;x b U a ( x a ) s.t : U b ( x b ) U b x a + x b ± w a + w b x a ;x b & 0
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/01/2008 for the course ECON 201B taught by Professor Anderson during the Spring '06 term at University of California, Berkeley.

Page1 / 2

ECON201B 2006 PS1 - Economics 201B 2nd Half - Spring 2006...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online