General Equilibrium Prompt

Consider the following information as you answer the questions that refer to it below:

There are two consumers, Consumer A and Consumer B$,$ each consuming two goods, x and y$.$ Both consumers have identical Cobb$-$Douglas utility functions, indicating specific preferences for how they allocate their income between the two goods. Their utility functions are such that they each spend half of their income on each good. Assume that the price of y $($py$)$ is equal to one and the price of x is px$.$

Consumer A$\text{'}$s demand for x is equal to

x$\_$A$=(60($Px$)+30)/(2$Px$)$

Consumer B$\text{'}$s demand for x is equal to

x$\_$B$=(40($Px$)+20)/(2$Px$)$

Flag question: Ques$/$tion $6$

Question $62$ pts

Refer to the General Equilibrium Prompt above.

What is the total supply of x in the economy?

Flag question: Question $7$

Question $72$ pts

Refer to the General Equilibrium Prompt above.

Find the equilibrium price of x $($px$)$ and enter it below.