In free exchange among two individuals the position on the contract curve finally arrived at will, among other things, depend on: I. The bargaining strength of each individual. II. The initial endowments of the individuals. III. The individuals' preferences. Which of these correctly completes the statement?
a. Only III.
b. Only II.
c. I and III, but not II.
d. II and III, but not I.
e. I, II, and III.
e
Economics
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