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July 23, 2014

Homework Help: Economics

Posted by Brett on Wednesday, February 18, 2009 at 6:35pm.

Suppose Fred and Ethel need to divide 20 pizza slices and 10 cans of beverage. Fred's utility function is given by the equation U=Min(Z,B), where Z is the amount of pizza and B is the amount of beverage. Ethel's utility is given by the equation U=Min(1/2Z,B). What are the efficient allocation of Pizza and Beverage?

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