Question: help with question 1 1. [10 points] The table below summarizes an allocation of resources with two persons and two goods X and Y. Person

help with question 1

1. [10 points] The table below summarizes an allocation of resources with two persons and two goods X and Y. Person X consumption Y consumption MUY/MU; 5 2 4 2 At the current allocation, MCr/MC, = 2. For each of the following cases, propose a Pareto improvement. (a) [5 points] Both X and Y are private goods. (b) [5 points] X is a public good but Y is a private good

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