Question: QUESTION THREE a. Graph and differentiate between Isocost and Budget line. (4 Marks) b. Assuming the two goods X and Y and two persons, anialuze

QUESTION THREE a. Graph and differentiate between Isocost and Budget line.

QUESTION THREE a. Graph and differentiate between Isocost and Budget line. (4 Marks) b. Assuming the two goods X and Y and two persons, anialuze the excharge of goods between the two using the Edge Worth Box framework indicating the Pareto efficient allocation 16 Marks)

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