Hi could anyone please solve these problem for me? Thank you

i would love to have detailed answer please

Contingent Claim Economy. (14 marks) Consider the economy with two consumers, A and B who live for two periods. There is one physical consumption good. The consumers receive endowments of this good as WA and wg at date t = 1. At t = 0 they are equally uncertain about the state of the economy at t = 1. If it ends up in state 1, then WA = 12, Wg = 0. If it ends up in state 2, then WA = 0 and wg = 20. Neither consumer cares about t = 0 consumption. The utilities from t = 1 consumption are as follows UA (x1, x4) = -Inxi+ - In12, UB (x7, x7) = At date 0 the consumers may trade contingent claims for date t = 1 consumption. a. (2 marks) Explain what is trade in contingent claims and how can it help here. (1 mark) Write budget constraints for A and B. Use p; for the state prices, ba. for the contingent claims and r " for the desired consumptions with i = 1, 2. Normalize the prices so that p1 = 1. b. (2 marks) Draw the Edgeworth box for this economy. What is on the axis? Place the endowment points for the consumers in the Edgeworth box and draw their budget constraints. c. (1 mark) State the optimization problem for each consumer via the Lagrangean. d. (6 marks) Derive the Contingent Claim Economy equilibrium in this example. You should specify the demands (planned consumptions) for consumers A and B in states 1 and 2 and the equilibrium price p2. Your demands should be numbers, not functions of prices and endowments. e. (2 marks) Verify that the allocation you found in d. is Pareto Efficient. You may use MRS or gradients