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PaulKet PaulKet
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Posts: 488
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6 years ago
Can it be efficient for one trader to consume all units of the goods while the other trader consumes nothing? In other words, does this point lie on the contract curve?
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

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#1
6 years ago
Yes, it is a Pareto Optimal point (though perhaps socially undesirable for obvious reasons). In order to improve the utility of one consumer, we must reduce the consumption of the other, thereby making that other consumer worse off.
PaulKet Author
wrote...
#2
5 years ago
Smiling Face with Open Mouth Yay, got perfect on my quiz
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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