Microeconomics Assignment
Budget: $30 – $250 USD
The assignment consists of 3 questions each about one concept:
1) Exchange economy, 2 consumers 2 goods with different cobb-Douglas utility functions for each consumer
we need to find the set of Pareto optimal allocation in the economy and illustrate it in an appropriate diagram then ) find the competitive equilibrium prices and allocations in this economy. And illustrate them in a digram
2)production economy
2 firm and 2 factors of production 2 different production functions we need to Find the set of production efficient allocations in this economy. Illustrate the set of efficient factor allocations in a Bowley box diagram. Describe and illustrate the production possibility frontier. And For all possible values of p > 0, find the competitive equilibrium wage and rental rates, as well as the competitive equilibrium allocations of the output goods and the factors labor and capital
3)production exchange economy 2 consumers 2 goods 2 factors of production 2 firms
----> You can find the Assignment itself attached here.
1) Exchange economy, 2 consumers 2 goods with different cobb-Douglas utility functions for each consumer
we need to find the set of Pareto optimal allocation in the economy and illustrate it in an appropriate diagram then ) find the competitive equilibrium prices and allocations in this economy. And illustrate them in a digram
2)production economy
2 firm and 2 factors of production 2 different production functions we need to Find the set of production efficient allocations in this economy. Illustrate the set of efficient factor allocations in a Bowley box diagram. Describe and illustrate the production possibility frontier. And For all possible values of p > 0, find the competitive equilibrium wage and rental rates, as well as the competitive equilibrium allocations of the output goods and the factors labor and capital
3)production exchange economy 2 consumers 2 goods 2 factors of production 2 firms
----> You can find the Assignment itself attached here.