Colette and Boris Both Consume the Same Goods in a Pure

question 67

Multiple Choice

Colette and Boris both consume the same goods in a pure exchange economy.Colette is originally endowed with 9 units of good 1 and 6 units of good 2.Boris is originally endowed with 18 units of good 1 and 3 units of good 2.They both have the utility function U(x₁, x₂) = x^1/3₁x^2/3₂.If we let good 1 be the numeraire, so that p₁ = $1, then what will be the equilibrium price of good 2?

• A)$2
• B)$12
• C)$1
• D)$6
• E)$3

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