Fill in the missing information in the following tables. For each table, use the information provided to identify a possible trade. Then identify the final allocation and a possible value for the MRS at the efficient solution. (Note: There is more than one correct answer.) Illustrate your results using Edgeworth Box diagrams.

a. Norman’s MRS of food for clothing is 1 and Gina’s MRS of food for clothing is 4:

b. Michael’s MRS of food for clothing is 1/2 and Kelly’s MRS of food for clothing is 3.

Transcribed Image Text:

Individual Initial Allocation Trade Final Allocation Norman 6F, 2C 1F for 3C 5F, 5C Gina 1F, 8C 3C for 1F 2F, 5C