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Pareto optimal allocation of resources

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A small economy has only two consumers, Harold and Irene. Harold's utility function is U(x, y) x+ 50y^1/2. Irene's utility function is U(x, y) x+ 5y. Harold is endowed with 500 units of x and 60 units of y. They make trades to reach a Pareto optimal allocation of resources in which both persons consume positive amounts. How much y does Harold consume?

Reference no: EM132286765

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