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Well, the first approach of economists was that equilibrium
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maximizes the sum of utilities.
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So let's see how that works in this example.
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So this example's very special because everybody thinks that
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the good Y has constant marginal utility of 1.
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So that's going to play a big role in our optimization in
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maximizing the sum of utility.
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So if you want to maximize the sum of utilities you have to
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such that X^a+X^b =84
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which is the sum of 4 and 80
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and Y^ Y^ = 6,000.
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So the claim is that if all these two million people meet in