Complete question graphically. Suppose the utility functions for consumers A and B are given by

u^A(x₁,x₂)=x₁+x₂

u^B(x₁,x₂)=min{x₁,x₂}

and their endowments are

^A= (3,4)

^B= (4,3)

(a) Is(p₁, p₂) = (1,1)an equilibrium price? If so, what is the equilibrium consump- tion allocation?

(b) Is(p₁, p₂) = (1,2)an equilibrium price? If so, what is the equilibrium consumption allocation?