Question: could someone please help me with the question Q13. Consider a two agent, two-good (denoted by X and Y ) endowment economy with following details:

could someone please help me with the question

could someone please help me with the question Q13. Consider a two

Q13. Consider a two agent, two-good (denoted by X and Y ) endowment economy with following details: The indirect utility functions over prices p = (Px, Py) and income m and endowments are VI(Pr, Py, m) = log (m) alog (Pr) (1 a) log (Py) U2(Px, Py, m) = log (m) (1 a) log (Pr) a log (Py) W1 = (2, 1) W 2 = (1, 2 ) 1. (10 pts) Show that the Marshallian Demand functions of the two agents for good Y are given by yl( p, m) =(1 a) yz ( p, m) = a- 2. (10 pts) Use the above to calculate the market clearing price py for market Y. 3. (5pts) Use the Walras Law to obtain the market clearing price pr for in market

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