Refer to the figure above. What is the equilibrium quantity after the demand curve shifts to D2?

The term "born with a silver spoon in his mouth" mistakenly implies

A) only monetary endowments allow one to trade with others. B) only the wealthy are strong negotiators in trade. C) endowments are physical. D) endowments differ.

Suppose we live in an exchange economy with two goods. I own 50 of both goods, and you own 250 of both goods. My tastes are captured by the utility function and yours are captured by the utility function . a. Calculate the competitive equilibrium price. b. How much do each of us consume of good 1 in equilibrium?

c. Suppose the government transfers 100 units of your good 1 endowment to me. How is your answer to (a) and  (b) affected? d. Suppose the government instead transfers 100 units of good 2 from you to me. How is your answer to (a) and (b) affected? e. Do you think your answers to (c) and (d) generally hold for most types of tastes -- or do you think they arise because of some specific feature of these tastes? What will be an ideal response?