In a 2 × 2 general equilibrium model of exchange with goods X and Y and two consumers 1 and 2, both whom have a weakly positive endowment of X and Y. In the exchange equilibrium, we know that
1
The MRSXY for consumer 1 is greater than the MRSXY for consumer 2
2
The MRSXY for consumer 1 is less than the MRSXY for consumer 2
3
The MRSXY for consumer 1 is equal to the MRSXY for consumer 2
4
The MRSXY and MRSXY are both zero