1. 

Suppose that Alfred and Alice are neighbors, and both are gardeners. Alice grows only potatoes and Alfred grows only corn. At the end of the growing season Alice has 200 potatoes and Alfred has 10 bushels of corn. (a) Draw an Edgeworth Box to characterize this initial setting and their mutual endowments. (You may draw the diagram with a drawing program (Word has one) or by hand and imbed a photograph if your diagram in your answer.) (b) assume that each has conventional C-shaped indifference curves. Draw a price line that generates a general equilibrium for this twogood economy. Label all details. (c) Suppose that Alice has a conventional strictly concave utility function. Characterize her excess demand function for potatoes. (IIint: her budget constraint is PcC+PpP : ZOOPp.) Briey explain each of your answers