4. The following is a total value schedule for coconuts for George and Ringo. 4 5...

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Answer 1

Answer #1

Optimal combinations are those where Marginal value of George and Ringo are equal.

MV	Q_G	Q_R	Total Q
9	3	7	10	Efficient
8	4	8	12	Inefficient
7	5	9	14	Inefficient
6	6	10	16	Inefficient
5	7	11	18	Inefficient

We cannot distribute more than 10 so all combinations above 10 are unachievable or inefficient.

Efficient allocation

George = 3 coconuts

Ringo = 7 coconuts

Please contact if having any query thank you.

Answer 2

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