Please help to solve part (a) and (b).

Detailed steps are required.

Thanks!

13.Alice and Bill live in an exchange economy with two goods, x1 and x2. Alice a. owns 50 of both goods, and Bill owns 250 of both goods. Alice's utility function is u\"(x1,x2) = x2 + 501ml:1 and Bill's utility function is uB(x1, x2) = x2 + 100111951. Derive the contract curve and illustrate it in an Edgeworth box. Explain your work. [20 marks] Determine the competitive equilibrium price and consumptions of the two goods. Explain the differences, if any, in the consumption levels of the two agents. Graphically illustrate your answer. [25 marks] Suppose the government transfers 100 units of Bill's good 1 endowment to Alice. How is your answer to (b) is affected? Explain in words, and graphically illustrate your answer. [25 marks] . How would a sufficiently large redistribution of the good 1 and good 2 endowments alter your answer to (b)? Graphically illustrate your answer. Explain the intuition behind your answer. [30 marks]