Multiple Choice
suppose that Morris has the utility function U(b, w) = 6b + 6w and Philip has the utility function U(b, w) = bw.If we draw an Edgeworth box with books on the horizontal axis and wine on the vertical axis and if we measure Morris's consumptions from the lower left corner of the box, then the contract curve contains
A) a straight line with slope 1/1 passing through the upper right corner of the box.
B) a curve that gets steeper as you move from left to right.
C) a straight line running from the upper right corner of the box to the lower left.
D) a straight line with slope 1/1 passing through the lower left corner of the box.
E) a curve that gets flatter as you move from left to right.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: suppose that Morris has the utility function
Q5: Suppose that Mutt's utility function is
Q6: An economy has two people, Charlie and
Q7: Professor Nightsoil's utility function is U<sub>N</sub>(B<sub>N</sub>, P<sub>N</sub>)=
Q8: Professor Nightsoil's utility function is U<sub>N</sub>(B<sub>N</sub>, P<sub>N</sub>)=
Q10: Ken's utility function is U(Q<sub>K</sub>, W<sub>K</sub>)=Q<sub>K</sub>W<sub>K</sub> and
Q11: Suppose that Mutt's utility function is
Q12: Astrid's utility function is U(H<sub>A</sub>, C<sub>A</sub>)= H<sub>A</sub>C<sub>A</sub>.Birger's
Q13: Ken's utility function is U(Q<sub>K</sub>, W<sub>K</sub>)=
Q14: An economy has two people, Charlie and