1. In what ways does bounded rationality call into question the basic assumptions of the traditional economic model? Please explain thoroughly in paragraph format.

2. Who is `correct, Rawls or Nozizk? Please explain thoroughly in paragraph format

3. Refer to exhibit 9.1. At point C, Jane has a majority of both goods, and Paul, a minority. Nevertheless, being on the contract curve, it is Pareto optiml. In what snese is this allocation of goods optimal, and in what sense might it not be? Could a point off the contract surve ever be socially optimal, or must a soially optimal point fall on the surve? Please explain thoroughly in paragraph format.