. Consider a simple economy with two individuals, Elena and Julia. The economy is endowed with 30 cups of delicious Colombian coffee and 30 French croissants each

month. Elena and Julia's preference for these goods are given by their utility functions

E= 1/3 2/3

J= 2/3 1/3

Where is the amount of delicious Colombian coffee (in cups) and is the number of French croissants.

c. Find the set of Pareto Efficient allocation in this economy. That is, find the contract curve

d. In the initial allocation, each individual has 15 French croissants and 15 cups of delicious Colombian coffee. Draw the Edgeworth Box diagram for this economy and explain whether the initial allocation of cheese and bread is Pareto Efficient.