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6. Suppose there are two kindergarteners respectively named Prince and Pauper. They each initially have received 10 pieces of construction paper for use for drawing.
6. Suppose there are two kindergarteners respectively named Prince and Pauper. They each initially have received 10 pieces of construction paper for use for drawing. Assume that their respective utility depends only on two commodities. construction paper and washable markers. Prince is \"rich" and has five times the number of markers as Pauper. and all markers are different colors. For simplicity. assume that construction paper and markers are innitely divisible. a) Draw an Edgeworth Box showing the initial allocation, assuming conventionally shaped indifferences curves for both children. (5 points) 13) Using the Edgeworth Box from part (a). explain how a ban on trading construction paper for additional markers can lead to an inefficient outcome for these two children. (5 points) c) Draw a new Edgeworth Box that represents a situation in which a ban on trading construction paper for additional markers does not reduce efciency for these two children. (5 points}
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