Business
Business, 20.11.2019 01:31, goat561

From now on, ignore the information that firm a and b wish to produce, respectively, 2 and 5 units of output. suppose that this economy becomes closed, have only these two firms producing, and that it has only 20 workers and 20 machines (capital) available. moreover, the initial endowment is given by: firm a (15 workers, 5 machines) and firm b (5 workers, 15 machines). draw the edgeworth box illustrating the initial endowment.

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From now on, ignore the information that firm a and b wish to produce, respectively, 2 and 5 units...

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