An economy has 90 to divide between katherina and bianca, Business Economics

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An economy has 90 to divide between katherina and bianca

An economy has $90 to divide between Katherina and Bianca. Katherina’s utility function is

UK(xK) = xK½, where xK represent her allocation of dollars. Bianca’s utility function is UB(xB) = xB¼, where

xB represents her allocation of dollars.

(a) Which allocations of $90 are exchange efficient?

(b) Calculate the allocation that maximizes utilitarian welfare.

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Business Economics: An economy has 90 to divide between katherina and bianca

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Business Economics: An economy has 90 to divide between katherina and bianca

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