[8] Consider a two-person endowment economy characterized by the Edgeworth Box below: X2 () B B E A OA a. [4] Are the allocations depicted at points A and B Pareto efficient? Explain your reasoning. b. [2] Add bowed indifference curves that reflect the utility that the two consumers get from the endowment depicted at point E (assume that they value both goods). C. [2] What is meant by the term "Pareto improvement." In your diagram highlight the set of Pareto improving allocations given the endowment