Explain why every allocation is pareto efficient

Reference no: EM131020361

Your airplane crashes in the Pacific Ocean. You land on a desert island with one other passenger. A box containing 100 little bags of peanuts also washes up on the island. The peanuts are the only thing to eat. In this economy with two people, one commodity and no production represent that possible allocations in a diagram, and explain why every allocation is Pareto efficient. Is every allocation fair?

Reference no: EM131020361

Questions Cloud

Determine if the function is even odd or neither : Determine if the function is even, odd, or neither. Compare the graph of the given quadratic function f with the graph of y = x2.

Is it ethically forbidden to go out of the sales chain : Does Ilene have the obligation to push for broader changes within the system, rather than only changing her own job responsibilities to align with her personal ethics? Is it ethically forbidden to go out of the sales chain

Define gail ethical dilemma : "This was just how the business operated, so I didn't say anything," said Gail. "It was just part of the culture." . Define Gail's ethical dilemma. Is the radio station's policy with product giveaways ethically acceptable

Describe the fundamental ethical dilemma that barbara faces : How would you describe the fundamental ethical dilemma that Barbara faces? Who benefits by Barbara passing on the incorrect information? Who is harmed by her doing so

Explain why every allocation is pareto efficient : A box containing 100 little bags of peanuts also washes up on the island. The peanuts are the only thing to eat. In this economy with two people, one commodity and no production represent that possible allocations in a diagram, and explain why eve..

What values are at stake : Case: More Competition. You are in a head-to-head battle with your arch competitor, Evil Enterprises. One of your co-workers approaches you. What values are at stake

Estimate the total intrinsic value of a large gas : You want to estimate the total intrinsic value of a large gas and electric utility company. This company has publicly traded stock and has been paying a regular dividend for many years. You decide that, due to the predictability of the dividend that ..

Case - conflict of interest : Case: Conflict of Interest. As department manager, you are hosting an informal celebration in the office. The food budget is $200. Your next door neighbor has just started her own catering business and asks to supply the food

What values are in play : Case: Gratuities. A customer has a large sailing yacht on a vessel that your company will be discharging. The customer is present and is watching the off-loading operation. What values are in play

User Account

All Pages