Problem
1. What are the three requirements of an efficient market?
2. What can the Edgeworth box be used to examine? What does an Edgeworth box plot?
3. What is the relationship between consumers' marginal rates of substitution and the goods' prices in an efficient market? How can this relationship be seen in an Edgeworth box?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.