In an Edgeworth Box, Apples Are Measured Along the Horizontal

question 40

Multiple Choice

In an Edgeworth box, apples are measured along the horizontal axes, and oranges are measured along the vertical axes. Player 1 is in the lower left-hand corner; player 2 is in the upper right-hand corner. Player 1 likes apples but gets no utility from the consumption of oranges. Player 2 likes oranges but gets no utility from the consumption of apples. In the initial endowment, Player 1 has 5 apples and 4 oranges. Player 2 also has 5 apples and 4 oranges. What is the contract curve?

• A)All points along the horizontal axis.
• B)All points along the vertical axis.
• C)All points to the right and below the initial endowment point.
• D)The point where Player 1 has 10 apples and 0 oranges, and Player 2 has 8 oranges and 0 apples.

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Definitions:

Orthogonals

Lines in perspective drawing that are parallel to the ground plane but recede towards a vanishing point on the horizon, helping to create the illusion of three-dimensional space on a two-dimensional surface.

Central-plan Building

An architectural design where the structure's parts are of equal dimensions around the center, often found in circular or polygonal buildings.

Pointed Arches

An architectural element characteristic of Gothic style, consisting of arches with pointed apices, which allowed for taller structures and more window space.

Central-plan Structure

An architectural design characterized by a primary central space (such as a dome) surrounded by symmetrical areas on each side.