4(b) In an Edgeworth box economy, do the following: a. Sketch a situation where preferences are neither convex nor strictly monotonic and there is no Walrasian equilibrium. b. Sketch a situation where preferences are neither convex nor strictly monotonic yet a Walrasian equilibrium exists nonetheless. C. Repeat parts (a) and (b), but this time assume preferences are not continuous.

4(b) In an Edgeworth box economy, do the following: a. Sketch a situation where preferences are neither convex nor strictly monotonic and there is no Walrasian equilibrium. b. Sketch a situation where preferences are neither convex nor strictly monotonic yet a Walrasian equilibrium exists nonetheless. C. Repeat parts (a) and (b), but this time assume preferences are not continuous.

Automotive Technology: A Systems Approach (MindTap Course List)

6th Edition

ISBN:9781133612315

Author:Jack Erjavec, Rob Thompson

Publisher:Jack Erjavec, Rob Thompson

Chapter3: Basic Theories And Math

Section: Chapter Questions

Problem 2RQ: In what four states does matter exist? Cite examples of each.

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In what four states does matter exist? Cite examples of each.
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