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May and Noon Both Like My Little Pony Toys and Matchbox

Question 52

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May and Noon both like My Little Pony toys and Matchbox cars. Both 3-year-olds are on their U3 indifference curve. Explain why each point would or would not represent a Pareto improvement. May and Noon both like My Little Pony toys and Matchbox cars. Both 3-year-olds are on their U<sub>3</sub> indifference curve. Explain why each point would or would not represent a Pareto improvement.

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Since each child is already on her U3 ind...

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