Chapter
1. Figure It Out 15.3
1.1 Screen 1 of 3
Consider the Edgeworth box below, which depicts the amount of soda and pizza available to two consumers, Thelma and Lou.
Question
Suppose that Thelma and Lou are initially at point A. How much soda does each have? How many pizzas?
Lou has
0VV1JcqyBrI=
soda(s) and
607M7xmPORU=
pizza(s).
Thelma has
607M7xmPORU=
soda(s) and
0VV1JcqyBrI=
pizza(s).
Lou’s origin is at the bottom right. Point A is three pizzas to the right of Lou’s origin; it is one soda up from Lou’s origin. Therefore, Lou has one soda and three pizzas. Thelma’s origin is in the upper right corner of the Edgeworth box. Point A is three sodas down and one pizza left of Thelma’s origin, so she has three sodas and one pizza. For further review see section “Efficiency in Markets: Exchange Efficiency”.
1.2 Screen 2 of 3
Consider the Edgeworth box below, which depicts the amount of soda and pizza available to two consumers, Thelma and Lou.
Question
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
1.3 Screen 3 of 3
Consider the Edgeworth box below, which depicts the amount of soda and pizza available to two consumers, Thelma and Lou.
Question
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