Consider a Society Consisting of Just a Farmer and a Tailor.The

question 86

Multiple Choice

Consider a society consisting of just a farmer and a tailor.The farmer has 30 units of food but no clothing.The tailor has 60 units of clothing but no food.Suppose each has the utility function U = F^1/3C2/3.If the price of clothing is always $1,and the food price is currently $1,then we can conclude

• A)the market is at a competitive equilibrium.
• B)the price of food will drop towards a competitive equilibrium.
• C)the price of food will increase towards a competitive equilibrium.
• D)None of the above.

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Definitions:

Primary Prevention

Strategies or interventions aimed at preventing the onset of diseases or injuries before they occur.

Tertiary Prevention

Interventions aimed at managing existing diseases in individuals to prevent further deterioration, complications, or recurrence, typically involving treatment or rehabilitation.

Secondary Prevention

Efforts aimed at early detection and intervention to prevent the progression or worsening of a disease or problem after it has initially occurred.

Social Condition

The prevailing circumstances, norms, and standards that characterize society at a given time, influencing individuals' lifestyles and opportunities.