Question 90 out of 1 pointsIf each of the two players represented in an Edgeworth box has Cobb-Douglas indifference curves, then the contract curve will beSelected Answer:C.the diagonal line that begins at the opposite corners of the two players' origins and divides the box into two equal triangles.Answers:A.the series of tangency points where the two players' indifference curves have but one point in common.B. the horizontal axis.C.the diagonal line that begins at the opposite corners of the two players' origins and divides the box into two equal triangles.D. The vertical axis.

Question 100 out of 1 pointsIdentify the truthfulness of the following statements.I.The contract curve must contain the initial endowment point.II.All points on the contract curve are economically efficient.

Question 110 out of 1 pointsTwo individuals, A and B, consume two goods, and . Consumer A initially has 3 units of and 2 units of . Consumer B initially has 5 units of and 6 units of . Also, for Consumer A the and for Consumer B the . Does thisinitial allocation of and represent an efficient allocation?

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Question 121 out of 1 pointsThe input contract curve represents:

Question 131 out of 1 pointsFirm X produces output and Firm Y produces output using capital, K, and labor, L, as inputs. Firm X has marginal rate of technical substitution MRTSK,L= x/Lx, while firm Y has marginal rate of technical substitution MRTSyK,L= 9Ky/Ly. Which of the following allocations satisfies input efficiency?xKSelected Answer:A. Firm X has 5 units of Kand 5 units of L, and Firm Y has 1 unit of Kand 9 units of LAnswers:A. Firm X has 5 units of Kand 5 units of L, and Firm Y has 1 unit of Kand 9 units of LB. Firm X has 5 units of Kand 5 units of L, and Firm Y has 1 unit of Kand 3 units of LC. Firm X has 5 units of Kand 3 units of L, and Firm Y has 3 units of Kand 1 unit of LD. Firm X has 9 units of Kand 2 units of L, and Firm Y has 5 units of Kand 5 units of L

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