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Problem 2 Consider a pure exchange economy with two consumers and two goods
Problem 2 Consider a pure exchange economy with two consumers and two goods. Consumer 1 has endoement w1 = (8,2) and utility function U?(x) = x+/3,1/3 X2 : Consumer 2 has endowment w2 = (4, 4) and utility function U?(x) = x1/323/3
(a) Find all Pareto efficient allocations where both consumers consume strictly positive amounts of good 1 and good 2. (b) Find a Walrasian equilibrium.
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