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There are two consumers and two goods in an economy. Consumer a has demand x9 = 2, 29 = 10p1-2P1 Consumer b has demand x

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There are two consumers and two goods in an economy. Consumer a has demand x9 = 2, 29 = 10p1-2P1 Consumer b has demand x - 412 and x2 = 5. P2 P1 Consumer a's endowment is wa = 10, wg = 0. Consumer b's endowment is wi = 0, w2 = 8. A. At prices p1, p2 what is the value of consumer a's endowment? B. Show that at prices p1, P2, the amount consumer a spends with the demands given above is equal to the value of consumer a's endowment. C. Write down the market clearing condition for good 1 and good 2. D. Assume p = 1. What is the equilibrium price of p2 in this economy

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