COMSATS ECONOMICS 350 – Suppose there are three people

01 / 10 / 2021 Projects

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COMSATS ECONOMICS 350 – Suppose there are three people

Suppose there are three people in Sandspit Karachi; Ali, Taha and Sarmad. The only good that their society has is Palla fish. Suppose their utility functions are given below and depend on Xp the quantity of clams they consume: Ali: Utility = U = 5Xp 5, i.e., square root of quantity of pallas Taha: Utility = U = 2 Xp Sarmad: U = Xp (8- Xp) There are four pallas to divide up. Make a table below showing the level of utility they each would have with 0,1,2,3, and 4 pallas.

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