Repeat Worked-Out Problem 16.2 with the following assumptions: Lauren's utility function is UL(FL, WL) = Min {4FL,
Question:
Lauren's utility function is
UL(FL, WL) = Min {4FL, WL}
Humphrey's utility function is
UH (FH, WH) = 2√FH + √WH
Their initial endowments are FH = 2, FL = 8, WH = 24, and WL = 16. For Humphrey's utility function,
MUF = 1/√FH
MUw = ½ √WH
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