Question: please help and show work 5. [3] Consider a twoperson endowment economy characterized by the Edgeworth Box below: 3'2 IC ICA 0A X1 a. [3]

please help and show work

5. [3] Consider a twoperson endowment economy characterized by the Edgeworth Box below: 3'2 IC\" ICA 0A X1 a. [3] Print or sketch the diagram (make sure to include the endowment point and indifference curves] and add a contract curve to it. Explain the intuition behind the contract curve. b. [3] Identify the core on your diagram. What is special about this set of points? c. [2] Add a Pareto optimal allocation to your diagram. Explain why you chose this point

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