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plz help me the question Consider a competitive economy in which there are only two goods, good a and good 17. Aggregate demand for good

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Consider a competitive economy in which there are only two goods, good a and good 17. Aggregate demand for good a is: QE = 400 4013,, (1) Aggregate supply for good a is: Q2 =10Pu (2) Aggregate demand for good b is: Q? = 600 1019b (3) Aggregate supply for good b is: Q% =20Pb (4) I. for each good i, where i E {(1, b}, find the competitive equilibrium price P2: and the competitive equilibrium quantity Q3 11. for each good i, nd the price elasticity of demand and the price elasticity of supply at Pf, which we respectively call I]? and 1115; III. In this economy, the government wants to raise B = 1000 AUD while minimising the deadweight loss of the taxes introduced. Hence, the government needs to solve the Ramsey problem shown below. Solve the Ramsey problem and briey comment on the results (less than 300 words). If you choose to solve it using the Lagrangian method, proceed by finding the FOCs as if you were solving a maximisation problem: the calculations are exactly the same; min non X QX + Ta, Tb 2 (15 - no) X P* 2 (n16 - np) X Tb X P* (5) subject to (QP Ta + QiPitb) =R (6) IV. What is the impact of a change in Ta on Pi

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