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 A's utility function is given by: UA(X, Y) = X12#Y1/2 And consumer B's utility function is given by UB(X, Y) = X1/4#Y3/4 a) (8 points) Suppose the price of good Y is equal to one. Calculate the price of good X that will lead to a competitive equilibrium. Px=b) (4 points) How much of each good does each consumer demand in equilibrium? Consumer A's Demand for X: Consumer A's Demand for Y: Consumer B's demand for X: Consumer B's demand for Y: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