Question: Consider the two - by - two pure exchange economy. Denote the consumption bundle for each individual i = { 1 , 2 } as

Consider the two-by-twopure exchange economy. Denote the consumption bundle for each individual i ={1,2}as xi =(xi1,xi2).Suppose endowments are \omega i =(1,1)for each i.Further, suppose preferences are characterized by the following utility functions:
U1(x1)=min{x11,x12}
U2(x2)=max{x21,x22}.
Characterize the equilibrium allocation(s)xi in this economy, if any.

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