exam issues term 1?

Question 1

if two indifference curves were to intersect what does this violate?

Answer 1

Violate assumption of transitivity

Answer 2

U(x1,x2)=min{x1,2x2}

She is happy to give up 2 units of

Question 3

Adelino and Benito consume only two goods, X and Y. They trade only with each other and there is no production. Adelino’s utility function is given by U(xA, yA) = 2xA + 5yA and Benito’s utility function is given by U(xB, yB) =2{(6xB + 15yB)}1/2. In the Edgeworth box constructed for Adelino and Benito, the set of Pareto optimal allocations is

Answer 3

the whole edgeworth box