2. Let t be some rational preference over R32. Suppose that t is convex, i.e., each upper contour set is convex. Prove that each strict upper contour, i.e., {y 6 Bi : y > 23} for each a: in Ri is also convex. 3. Consider an economy with two consumers 1 and 2 and two goods as and y. The initial endowments of 1c and y in this economy are both 0. Consumer 1 likes good I and can supply good y, while consumer 2 likes good 3; and can supply good 3:. The utility functions of the consumers are: 1 1 Consumer 1: U1 = X 5 X 8:; Consumer 2: U2 = Y 16 X 3:. Here X 2 0 is consumer 1's consumption of good 1:, Sy 2 0 is consumer 1's supply of good y; Y 3 0 is consumer 2's consumption of good y, and Sm 2 0 is consumer 2's supply of good 3;. Compute the Walrasian equilibrium (Normalise the price of good a: as 1)