Question: Consider an economy in which preferences are given by and U = x + x, U = min {1, 2}. Given the endowments =

$Consider an economy in which preferences are given by [ U^{1}=x_{1}^{1}+x_{2}^{1}, ] and [ U^{2}=min left{x_{1}^{2}, x_$

Consider an economy in which preferences are given by and U = x + x, U = min {1, 2}. Given the endowments = (1, 2) and = (3,1), construct the set of Pareto efficient allocations and the contract curve. Which allocations are also compet- itive equilibria?

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