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05-06-2023
Business

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Sarah and Andrew are two traders in a pure exchange economic with two goods, Bikes (B) and Computers (C). Sarah's preferences are described by the Cobb-Douglas Utility function : Us = Bs 1/3 cs 2/3
Andrew's preferences are given by: Ua = Ba 1/2 ca 1/2 Assume the price of Bikes is 1 and the price of computers is p. The initial endowments are BA = 10, Bs= 20, CA= 20 and Cs= 10, what is the equilibrium price of computers relative to bikes (p)? Answer:

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