economics

posted by .

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 -

    I don't understand your Utility functions. If I read your post, literally, then:
    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.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Economics

    2. Suppose Fred has a utility function of the form U = X ½ Y ½ . Fred has an income of $100, good X costs $1.00, and good Y costs $2.00. How much of good X and how much or good Y will Fred buy?
  2. Economics

    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 …
  3. college Econ

    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 …
  4. 4th grade

    Three bananas cost the same as two oranges. If oranges are half the price of peaches, how many bananas could I get for the price of 3 peaches?
  5. Maths

    Three bananas cost the same as two oranges. If oranges are half the price of peaches, how many bananas could I get for the price of 3 peaches?
  6. arithmetic

    A basket of fruit has 10 oranges,12 apples, and 18 peaches.Express in simplest form the fraction of fruit that are oranges.
  7. Algebra

    Fiona and camila took a load of peaches to the farmers market. During the first hour , they sold 1/2 of the peaches plus 1/2 of a peach. In the second hour, they sold 1/3 of the remaining peaches plus 1/3 of a peach. In the third hour …
  8. math (grade6)

    cassie and connor are selling peaches yesterday cassie sold 31 peachesconnor sold p fewer peaches than cassie. a. suppose connor sold 50 peaches today explain how to write an expression for the number of peaches cassie sold today if …
  9. math

    mMax has two basket of oranges. The ratio of the oranges in the basket A to those in basket B is 7:4. If Max puts half of the oranges in basket A to basket B, what is the new ratio of the oranges in basket A to basket B?
  10. Math

    Max has two baskets of oranges. The ratio of the oranges in basket A to those in basjket B is 7:4. If Max puts half of the oranges in basket A to basket B. what is the new ratio of the oranges in basket A to basket B?

More Similar Questions