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djsmyers djsmyers
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6 years ago
Robinson starts out with 10 lobsters and five coconuts. Friday starts out with 10 lobsters and 15 coconuts. After trading, Robinson ends up with eight lobsters and 10 coconuts. Robinson feels neither better nor worse off than when he started but cannot get Friday to agree to any more trades. Friday feels better off than when he started. Draw the Edgeworth box consistent with this story.
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Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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SaHiN22SaHiN22
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6 years ago
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