Suppose the Price ofX is PX : $2, and the Price on is PY : $1. a) (16 points) Suppose each consumer sells their initial endowment and buys back their optimal bundle. Using an Edgeworth Box, illustrate - The Budget Constraint - The Initial Endowment (W) - A's Optimal Bundle (A) - B's Optimal Bundle (B) Label the initial endowment W, label A's optimal bundle A, and label B's optimal bundle B. Make sure your graph is clearly and accurately labeled. Tb) (8 points) For the situation above, determine for each market if there is excess demand, excess supply, or the market is in equilibrium {circle the correct answer). If there is excess demand or excess supply, determine how much it is. Market for Good X: Excess Demand = Excess Supply = The market is in equilibrium Market for Good L Excess Demand = Excess Supply = The market is in equilibrium