8. Refer to the diagram below, which depicts a pure exchange economy (i.e., an economy with no production}. The endowment for this economy is labeled w. Note that the budget line depicted, which passes through w, has a slope (in absolute value) equal to {prpy}: . The price ratio in this economy a) Is the equilibrium price ratio and efcient b] Is the equilibrium price ratio and is not efcient c) Is not the equilibrium price ratio and in equilibrium the ratio will be greater d) Is not the equilibrium price ratio and in equilibrium the ratio will be smaller e) Is not the equilibrium price ratio and is indeterminate BL: |slope| = (prpyf