Edgeworth box diagram to represent initial endowments

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Two people from the military, General Equilibrium (player 1) and Major Inefficiency (player 2), have been stranded on an island after a shipwreck. General Equilibrium was able to salvage 50 bags of Spinach (X₁) and 50 pounds of rice (Y₁) from the ship. Major Inefficiency also was able to save 50 bags of Spinach (X₂) and 50 pounds of rice (Y₂). There are no other goods on the island, and no other people. (a). Use an Edgeworth Box diagram to represent the initial endowments of the two people in this two-person, two-good economy.

Reference no: EM131385980

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