9 Introduction to the Edgeworth Box

The tutor introduces the Edgeworth Box, a graphical model illustrating resource allocation in an economy with two goods ('x' and 'y') and two participants ('Revy' and 'Ben'). They discuss how each point within the box represents a unique distribution of resources between individuals. The video emphasizes that every point allocates all available resources, reflecting a key principle in exchange economies. Subscribe to @AxiomTutoring for more insightful tutorials.