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4. Suppose there are 200 units x1 and 200 units x2. Individuals 1 and 2 respectively endowed with 100 units x1 and x2. Individual 1

4. Suppose there are 200 units x1 and 200 units x2. Individuals 1 and 2 respectively endowed with 100 units x1 and x2.

Individual 1 says, 'I like x1, but i can take or leave x2 '.

Individual 2 says, 'I like x2, but I can take or leave x1'.

(a) Draw an Edgeworth box for the two people and make a curve which shows their preferences

(b) Find the core and Walrasian equilibrium on a simple economy

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