Question #71739

Robinson's technology for producing coconuts (x) is represented by x equals square root of l, where l is labour, in hours per day. His preferences for coconuts and labour are given by the utility function u left parenthesis l comma space x right parenthesis equals x minus l over 2. Assume Robinson is the only consumer of coconuts, and the owner of the only firm that produces coconuts. Suppose the price of coconuts is set at 1.

The Pareto efficient allocation of labour and coconut is l= and x=

The Pareto efficient allocation of labour and coconut is l= and x=

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