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Questions › Microeconomics › General equilibrium and exchange economies

General equilibrium and exchange economies: previous year questions

Asked 3 times in 2 exams across 2 years. Newest first.

Practise General equilibrium and exchange economies, easy to hard →

  1. IIT JAM 2022 Q26Consider a pure exchange economy with two goods x and y. Ravi and Suraj have utility functions U_R = βlog (xy) and U_S = (x/y)^α. Endowments satisfy…
  2. GATE 2021 Q10Walras' Law implies that if there are N markets in the economy, then one only needs to find equilibrium prices in
  3. IIT JAM 2021 Q51Amar has endowment F_A = 2, W_A = 5 and utility U_A = f_A² w_A. Barun has endowment F_B = 8, W_B = 5 and utility U_B = min {f_B, w_B}. They trade…