DraftFinalODDODDODD

# DraftFinalODDODDODD - Take-Home Final ODD-ODD-ODD 1...

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

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Take-Home Final ODD-ODD-ODD 1 Take-Home Final Exam ODD-ODD-ODD This exam is take-home, open-book, open-notes. You may consult any published source (cite your references). Other people are closed. The exam you turn in should be your own personal work. Do not discuss with classmates, friends, professors (except with Prof. Starr or Ms. Fried — who promise to be clueless), until the examination is collected. Please use a blue book. There are four questions. Answer all questions fully. State clearly any additional assumptions you need. 1 Consider a two-person pure exchange economy (Edgeworth Box) made up of the following two households. The notation “min[ xy, 16]” means the minimum of xy and 16. Superscripts denote the household name — nothing in this problem is raised to a power. Household 1 Household 2 Endowment r 1 = (1 , 9) r 2 = (9 , 1) Utility Function u 1 ( x, y ) = xy u 2 ( x, y ) = min[ xy, 16] 1. Household 2 does not fulfill C.IV. Household 2 has a maximum utility of 16; whenever household 2’s holdings of...
View Full Document

{[ snackBarMessage ]}

### Page1 / 2

DraftFinalODDODDODD - Take-Home Final ODD-ODD-ODD 1...

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

View Full Document
Ask a homework question - tutors are online