Question 3 An economy has two agents, A and B, and two goods x1 and 3:2. The utility functions and endowments of the agents are given by: mass) = (white)? eA (ate?) = (1, 2) Weiss?) = (93?)??(m'29) e3 = (case?) = (2, 1) hilt-l Suppose A and B trade on a. Walrssian market as perfect competitors. Let the price of good 2 be xed at 1, and the price of good 1 be p. (a) Find A's demand for good 1 as a. function of p. (b) Find B's demand for good 1 as a. function of p. (c) Find the equilibrium price of good 1. Call this 39*. (d) What are the net trades that occur between the two agents at these prices? ((1) We know that if the price of good 1 is p\" and that of good 2 is 1, then the market for good 2 will clear as well. Explain why, in an art-good econOmy, if the markets for goods 1 through n 1 clear at some prices (pf, p3, ..., P21), then the market for good an. must clear at these prices as well