# economics

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Suppose 15 peaches and 20 oranges need to be divided between fred and ethel. Fred's utility function is U=Max(#of peaches, #of oranges) ethels utility function is U=Max(2# peaches, # of oranges). Carefully draw a graph showing the set of Pareto efficient allocations.

• economics -

If Fred has 1 peaches and 10 oranges, his utility is same as if he had 9 peaches and 10 oranges. The utility for both mixes is 10? This does not make sense.

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