If Two People Have Identical Homothetic Preferences and If Their

question 51

True/False

If two people have identical homothetic preferences and if their indifference curves have a diminishing marginal rate of substitution, then in an Edgeworth box, the locus of Pareto optimal allocations between them is a diagonal straight line.

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Definitions:

Contempt Of Court

An act of disrespect or disobedience towards the court or its officers, which can result in penalties or sanctions.

Violating An Injunction

The act of disregarding or not complying with a court order that prohibits a specific action.

Robbing A Small Business

The act of illegally taking property from a small business through threats or violence.

Statute Of Limitations

A law that sets the maximum period one can wait before filing a lawsuit, depending on the type of case or claim, after which the legal claim is no longer valid.