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Unformatted text preview: (c) allocations preferred to the endowment by both consumers 3. Utility functions and endowments for the two consumers are u 1 ( x, y ) = xy , endowment = (3 , 6) u 2 ( x, y ) = xy 2 , endowment = (7 , 4) Sketch the Edgeworth Box, showing (a) all eﬃcient allocations (b) all eﬃcient allocations that each consumer thinks are better than his/her endowment 1 4. Utility functions and endowments for the two consumers are u 1 ( x, y ) = min { x, y } , endowment = (2 , 6) u 2 ( x, y ) = x + y , endowments = (6 , 4) Sketch the Edgeworth Box, showing (a) all eﬃcient allocations (b) all eﬃcient allocations that each consumer thinks are better than his/her endowment 2...
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 Winter '09
 McDevitt
 Utility, Endowment, edgeworth box

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