2. (26 points) Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 6 units of good X and 1 units of good Y. Consumer B is given an initial endowment of 2 units of good X and 7 units of good Y. Consumer As utility function is given by: UA(X,Y) = X1/2*Y1/2, And consumer Bs utility function is given by UB(X,Y) = X1/4*Y3/4

c) (14 points) Using an Edgeworth Box, illustrate The Budget Constraint The Initial Endowment (W) The Competitive Equilibrium (D) Label the initial endowment W and label the Competitive Equilibrium D. Make sure your graph is clearly and accurately labeled.