NOTE: It is a General Equilibrium (GE) question. Please answer all parts of the question. Thanks for the help. Ш. Consider the two-person, two-good economy given by 띠 (x) = 2011 + x12, wi and u2(x2)2+222 , w- where u讠 : R → R+, xi :-(zil, Xi2), and wi := (wil ,Wi2), i = 1, 2, are person i's utility function, consumption bundle, and endowment of the two goods, respeortively. 1. Find the set of competitive equilibrium allocations and corresponding prices, 2. Show that the individuals' marginal rates of substitution are not equal at any of the part-(a) allocations 3. Are any of the part-(a) allocations Pareto optimal? Explain, 4. N = 0,클 1) is the best ow suppose someone decides that a allocation, (X1, X2 5. Show how a could be achieved as part of a competitive equilibrium with lump-sum taxes and transfers Ш. Consider the two-person, two-good economy given by 띠 (x) = 2011 + x12, wi and u2(x2)2+222 , w- where u讠 : R → R+, xi :-(zil, Xi2), and wi := (wil ,Wi2), i = 1, 2, are person i's utility function, consumption bundle, and endowment of the two goods, respeortively. 1. Find the set of competitive equilibrium allocations and corresponding prices, 2. Show that the individuals' marginal rates of substitution are not equal at any of the part-(a) allocations 3. Are any of the part-(a) allocations Pareto optimal? Explain, 4. N = 0,클 1) is the best ow suppose someone decides that a allocation, (X1, X2 5. Show how a could be achieved as part of a competitive equilibrium with lump-sum taxes and transfers


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