Economics · General Equilibrium
In a 2 × 2 general equilibrium model of exchange with goods X and Y and two consumers 1 and 2, both of whom have a weakly positive endowment of X and Y, which of the following holds true in the exchange equilibrium?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The MRSXY for both consumers is zero
- 2The MRSXY for consumer 1 is equal to the MRSXY for consumer 2✓
- 3The MRSXY for consumer 1 is less than the MRSXY for consumer 2
- 4The MRSXY for consumer 1 is greater than the MRSXY for consumer 2
Correct answer
The MRSXY for consumer 1 is equal to the MRSXY for consumer 2
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