2. Consider a two person exchange economy with preferences for person i={1,2} being u (c;) and endowments being w; where c = (c) and wi = (wi, w) >> 0. Assume one consumer has perfect substitutes utility, and the other agent has perfect complements. a. Construct the Edgeworth box carefully for this economy using the pref- erences given. b. Define the set of socially feasible allocations. c. Define the Contract Curve for the preferences given, and show the contract curve in the Edgeworth box. What is the complication defining the contract curve here with the perfect substitutes preferences? d. Define the Pareto Improvement set from any initial allocation w (W1, W2) = e. Show a competitive equilibrium price system in this economy. Also, explain why the first welfare theorem holds. f. Define the Second Welfare theorem. Explain also why it holds in this economy. g. Assume person 1 has preferences that are perfect substitutes, and person 2 has perfect substitutes. Just explain how this complicates answers to parts (a)-(f).