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0:32 5:46 Suggested clip General Equilibrium: How to Solve for the Contract Curve — YouTubeYouTubeStart of suggested client of suggested clip General Equilibrium: How to Solve for the Contract Curve — YouTube
2:07 22:10 Suggested clip Intermediate Microeconomics: Contract Curve & Pareto Optimally YouTubeStart of suggested client of suggested clip Intermediate Microeconomics: Contract Curve & Pareto Optimally
0:32 5:46 Suggested clip General Equilibrium: How to Solve for the Contract Curve — YouTubeYouTubeStart of suggested client of suggested clip General Equilibrium: How to Solve for the Contract Curve — YouTube
In microeconomics, the contract curve is the set of points representing final allocations of two goods between two people that could occur as a result of mutually beneficial trading between those people given their initial allocations of the goods.
An initial endowment 'w' represents the amount of commodities X & Y individuals A & B have available before trade. Thus, (A, YA) = WA and (LB, YB) = WB where WA and WB represents A's and B's initial endowments (or income).
0:48 21:09 Suggested clip Exchange Economy with Two Consumers — YouTubeYouTubeStart of suggested client of suggested clip Exchange Economy with Two Consumers — YouTube
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