Question 3 An economy has two agents, A and B, and two goods 931 and 932. The utility functions and endowments of the agents are given by: macaw?) = (2:1 14%) (9:2)g 214 = (614,32): (1 2) Weiss?) = (mowf waiter) = (2, 1) Suppose A and B trade on a Walrasian 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 p*.(d) What are the net trades that occur between the two agents at these prices? (d) We know that if the price of good 1 is 10* and that of good 2 is 1, then the market for good 2 will clear as well. Explain why, in an ngood economy, if the markets for goods 1 through 12 1 clear at some prices (pf, p3, ..., p3), then the market for good n must clear at these prices as well