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1. Consider a competitive exchange economy with two consumers and two goods. Suppose that consumer i has initial endowments wt 2 ha], 0.23), where w:-

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1. Consider a competitive exchange economy with two consumers and two goods. Suppose that consumer i has initial endowments wt 2 ha], 0.23), where w:- > 0,2' = 1, 2 and j = 1, 2. His preferences are given by the following utility function: U\". : aln(:c\"]) + (1 a) ln(:c), where 0

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