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3. Consider an exchange economy with two goods (X and Y) and two consumers (A and B). The utility functions of the two consumers are

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3. Consider an exchange economy with two goods (X and Y) and two consumers (A and B). The utility functions of the two consumers are given by UA(XA, YA) = min[XA, YA] and UB (XB, YB) = (YB) 2/3 (YB) 1/3 Each consumer has an endowment of the two goods. The total endowment of good X is 25 and that of good Y is 40. Consider an allocation X4 = 10, YA 10 and XB = 15, YB = 30. This allocation is the outcome of a competitive equilibrium in which the relative price of good X is 2. Is this true or false? Explain carefully

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