My description of the problem was wrong. The problems are asking for the equilibrium utility (I think) of 2 products that a single countries makes (Beta 1 & Beta 2).
Thanks for the assistance egale14262010 :)
I really appreciate the effort, but the problem is not focusing on supply vs. demand. It is focusing on the relationship between the utility of 2 countries and where the equilibrium lies within that relationship.
The answer to (A) I believe is AlphaA x QuanityA + AlphaB x QuanityB is less than...
Hi all,
I have an economics problem that I am not understanding at all. I was hoping that someone can at least explain to me what the problem means and how it can be solved.