2) In a pure exchange economy assume that there are three individuals A, B, C and that there are only four feasible consumption allocations denoted W, X, Y and Z. Recall that a consumption allocation is just a list of consumption bundles one for each individual. The individuals rank the consumption allocations in the following way. A B C First W X, W,Z X,Z Second X Y Y W Third Z Y where consumption allocations at the same level indicate that the individual is indifferent between those consumption allocations. a) (5 marks) Identify all Pareto inefficient consumption allocations and ex- plain. b) (5 marks) Identify all Pareto efficient consumption allocations and ex- plain