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2. (10 marks] Romeo and luliet inhabita pure exchange economy. Denote Romeo's consumption of )l and Y as X; and V... respectively: denote luiiet's as X, and 1"}. Romeo's utility function is U. = x, r. and Iuliet's is u, = xtii'if\". a. If Romeo and Iuiiet each initially own 25 units of K and 40 units of'i', nd the equilibrium allocation assuming competitive pricing. Also find the competitive price. if it exists. 1:. if Romeo initially owns 50 units of ii and 80 units of Y, and luliet owns nothing. find the equilibrium allocation assuming competitive pricing. Also nd the competitive price, if it exists. 3. {it} marks] Romeo and luliet inhabit it pure exchange economy. Denote Romeo's consumption of}: and Y as X; and 1'... respectively; denote luliet's as X, and l. Romeo's utility function is ii. = min [1,, YR] and luliet's is U, = X; + i'}. .1. Sketch the indifference curves in an Edgeworth Box, identifying the initial endowment. Also identify the contract curve. 1:. If Romeo and Juliet each initially own 25 units of]: and all] units of'i', find the set of possible equilibrium allocations