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If the farmer and the tailor are allowed to trade, with the market price of clothing normalised to one, what will the market price of

If the farmer and the tailor are allowed to trade, with the market price of clothing normalised to one, what will the market price of food be in equilibrium? What will the consumption of food and clothing of the farmer and the tailor be in equilibrium? Illustrate your answer on a carefully labelled Edgeworth box diagram. Show the price line and the competitive equilibrium allocation. [10 points]

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