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Only Individuals a and B Live on a Desert Island

question 65

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Only individuals A and B live on a desert island where no production is possible. A is endowed with 15 units of good X and 17 units of good Y. B is endowed with 13 units of good X and 23 units of good Y. In the Edgeworth box, good X is measured on the horizontal axis. Individual A's utility function is UA = 3XY so her MUX = 3Y and her MUY = 3X. Individual B's utility function is UB = 10 Only individuals A and B live on a desert island where no production is possible. A is endowed with 15 units of good X and 17 units of good Y. B is endowed with 13 units of good X and 23 units of good Y. In the Edgeworth box, good X is measured on the horizontal axis. Individual A's utility function is U<sub>A</sub> = 3XY so her MU<sub>X</sub> = 3Y and her MU<sub>Y</sub> = 3X. Individual B's utility function is UB = 10 so his and his MU<sub>Y</sub> = 5 . Which of the following allocations are on the contract curve? A) (X<sub>A</sub> = 14, Y<sub>A</sub> = 20) , (X<sub>B</sub> = 14, Y<sub>B</sub> = 20) B) (X<sub>A</sub> = 15, Y<sub>A</sub> = 17) , (X<sub>B</sub> = 13, Y<sub>B</sub> = 23) C) (X<sub>A</sub> = 18, Y<sub>A</sub> = 22) , (X<sub>B</sub> = 10, Y<sub>B</sub> = 18) D) None of the above. Only individuals A and B live on a desert island where no production is possible. A is endowed with 15 units of good X and 17 units of good Y. B is endowed with 13 units of good X and 23 units of good Y. In the Edgeworth box, good X is measured on the horizontal axis. Individual A's utility function is U<sub>A</sub> = 3XY so her MU<sub>X</sub> = 3Y and her MU<sub>Y</sub> = 3X. Individual B's utility function is UB = 10 so his and his MU<sub>Y</sub> = 5 . Which of the following allocations are on the contract curve? A) (X<sub>A</sub> = 14, Y<sub>A</sub> = 20) , (X<sub>B</sub> = 14, Y<sub>B</sub> = 20) B) (X<sub>A</sub> = 15, Y<sub>A</sub> = 17) , (X<sub>B</sub> = 13, Y<sub>B</sub> = 23) C) (X<sub>A</sub> = 18, Y<sub>A</sub> = 22) , (X<sub>B</sub> = 10, Y<sub>B</sub> = 18) D) None of the above. so his Only individuals A and B live on a desert island where no production is possible. A is endowed with 15 units of good X and 17 units of good Y. B is endowed with 13 units of good X and 23 units of good Y. In the Edgeworth box, good X is measured on the horizontal axis. Individual A's utility function is U<sub>A</sub> = 3XY so her MU<sub>X</sub> = 3Y and her MU<sub>Y</sub> = 3X. Individual B's utility function is UB = 10 so his and his MU<sub>Y</sub> = 5 . Which of the following allocations are on the contract curve? A) (X<sub>A</sub> = 14, Y<sub>A</sub> = 20) , (X<sub>B</sub> = 14, Y<sub>B</sub> = 20) B) (X<sub>A</sub> = 15, Y<sub>A</sub> = 17) , (X<sub>B</sub> = 13, Y<sub>B</sub> = 23) C) (X<sub>A</sub> = 18, Y<sub>A</sub> = 22) , (X<sub>B</sub> = 10, Y<sub>B</sub> = 18) D) None of the above. and his MUY = 5 Only individuals A and B live on a desert island where no production is possible. A is endowed with 15 units of good X and 17 units of good Y. B is endowed with 13 units of good X and 23 units of good Y. In the Edgeworth box, good X is measured on the horizontal axis. Individual A's utility function is U<sub>A</sub> = 3XY so her MU<sub>X</sub> = 3Y and her MU<sub>Y</sub> = 3X. Individual B's utility function is UB = 10 so his and his MU<sub>Y</sub> = 5 . Which of the following allocations are on the contract curve? A) (X<sub>A</sub> = 14, Y<sub>A</sub> = 20) , (X<sub>B</sub> = 14, Y<sub>B</sub> = 20) B) (X<sub>A</sub> = 15, Y<sub>A</sub> = 17) , (X<sub>B</sub> = 13, Y<sub>B</sub> = 23) C) (X<sub>A</sub> = 18, Y<sub>A</sub> = 22) , (X<sub>B</sub> = 10, Y<sub>B</sub> = 18) D) None of the above. . Which of the following allocations are on the contract curve?

Definitions:

Social Clause

A provision in trade agreements aimed at ensuring that trade does not lead to the detriment of labor or environmental standards.

WTO

World Trade Organization, an international body that regulates international trade between nations, aiming to ensure that trade flows smoothly and freely.

ILO

The International Labour Organization (ILO) is a United Nations agency that sets international labor standards and promotes rights at work, encouraging decent employment opportunities and enhancing social protection.

National Labor Relations Board

A federal agency in the United States tasked with enforcing US labor law in relation to collective bargaining and unfair labor practices.

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