Q2 |COMPETITIVE GENERAL EQUILIBRIUM] Amy (A) and Brian (1) have the following utility functions: where their endowments of consumption goods X and Y are ra follows XA - O,YA - 10, X, - GO, Y, - 50. (a) At the endowment point, what are the marginal rates of substitution Y for Amy? For Brian? (b) If they could engage in voluntary exchange, would they? (c) Normalize the price of good Y to 1, Le, Avr - 1, find the competitive a price of good X, Pr. (d') Find both Brian and Amy's consumption bundles in the equilibrium. (c) Explain the economic intuition/rationale of how you find the competi and allocation in (c) in words. (f) In the allocation of maounces achieved in (c) Parcto Optimal? Explain (:) Draw an Edgeworth box that shows all possible allocations and plat the ment points. Can you Show the steps to pin down the Indifferent plot the indifference curve of the two consumers and the contract cur Edgeworth box as well