Question: pleases love step by step Three consumers (A, B, and C) in an exchange economy value two goods (1 and 2) with the following utilities:

pleases love step by step

Three consumers (A, B, and C) in an exchange economy value two goods (1 and 2) with the following utilities: UA = (x4,) (x42)4, UB = (x1)(x2)3, and UC = (x1)(x 2)2. Person A is endowed with 3 units of good 1 and 1 unit of good 2, person B is endowed with 2 units of good 1 and 3 units of good 2, and person C is endowed with 1 unit of good 1 and 4 units of good 2. (a) Calculate the economy's net demand for good 2, as a function of the product price ratio. (b) Calculate consumer C's optimal amount of good 2 demanded in general equilibrium

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