Astrid's utility function is U(H_A, C_A)= H_AC_A.Birger's utility function is min{H_B, C_B}.If Astrid's initial endowment is no cheese and 3 units of herring and if Birger's initial endowments are 13 units of cheese and no herring, then where p is a competitive equilibrium price of herring and cheese is the numeraire, demand equals supply in the herring market.This implies that A)13/3 = p. B)3/13 = p. C)13/p + 3/2p = 3. D)13/(p + 1)+ 1.50 = 3. E)min{3, 13} = p.

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The Answer of Astrid's utility function is U(H_A, C_A)= H_AC_A.Birger's utility function is min{H_B, C_B}.If Astrid's initial endowment is no cheese and 3 units of herring and if Birger's initial endowments are 13 units of cheese and no herring, then where p is a competitive equilibrium price of herring and cheese is the numeraire, demand equals supply in the herring market.This implies that A)13/3 = p. B)3/13 = p. C)13/p + 3/2p = 3. D)13/(p + 1)+ 1.50 = 3. E)min{3, 13} = p.

Astrid's Utility Function Is U(HA, CA)= HACA

Astrid's Utility Function Is U(H_A, C_A)= H_AC_A