A pure exchange economy contains just two consumers, Kelvin and Brooklyn, and two goods, quiche and wine. Kelvin’s initial endowment is 3 units of quiche and 2 units of wine. His utility function is given by
A pure exchange economy contains just two consumers, Kelvin and Brooklyn, andtwo goods, quiche and wine. Kelvin’s initial endowment is 3 units of quiche and 2units of wine. His utility function is given by