In a Pure Exchange Economy, Ollie's Utility Function Is U(x

question 10

Essay

In a pure exchange economy, Ollie's utility function is U(x, y)= 3x + y and Fawn's utility function is U(x, y)= xy.Ollie's initial allocation is 1 x and no y's.Fawn's initial allocation is no x's and 2 y's.Draw an Edgeworth box for Fawn and Ollie.Put x on the horizontal axis and y on the vertical axis.Measure goods for Ollie from the lower left and goods for Fawn from the upper right.Mark the initial allocation with the letter W.The locus of Pareto optimal points consists of two line segments.Describe these line segments in words or formulas and show them on your graph.

---

Definitions:

D Orbitals

A type of atomic orbital with a characteristic clover shape, involved in bonding in elements beyond the first twenty.

Shape

In chemistry, this often refers to the geometric arrangement of atoms in molecules or the spatial form of a molecule.

Electron Orbital

A mathematical function that describes the wave-like behavior of either one electron or a pair of electrons in an atom.

Energy Level

An energy level is a quantized state of energy that an electron can occupy in an atom, related to the electron's position and movement.