Consider a perfectly competitive economy, that is, an economy in which all agents are price-takers and in which equilibrium prices are determined by the intersection of supply and demand at an equilibrium price pa. This economy is populated by two individuals, Alex and Bobby that consume only coffee and tea. Their preferences over the two goods can be represented by the following utility functions: 0;. )i (TN; UB = (cB (TB)? I 9 Both Alex and Bobby receive an endowment of one unit of tea and one unit of coee. $3 :23 || || 9".\" J'.' 0| 0| D: in | || _|