Question 2 28 pts Suppose there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X2 # Y UB(X,Y) = X"Y2 Therefore: . For consumer A: MUx = 2XY; MUY = X2 For consumer B: MUx = Y2; MUY = 2XY The initial endowments are: A: X = 60; Y = 150 B: X = 45; Y = 75 a) (16 points) Suppose the price of Y, Py = 1. Calculate the price of X, Px that will lead to a competitive equilibrium. b) (8 points) How much of each good does each consumer demand in equilibrium? Consumer A's demand for X: Consumer A's demand for Y: Consumer B's demand for X: Consumer B's demand for Y: c) (4 points) What is the marginal rate of substitution for consumer A at the competitive equilibrium? Note: You will upload this work, along with all the other questions, at the end of the exam. Enter the word "Finished" into the text-box below when ready to move on. Edit View Insert Format Tools Table B I U A V 2 V T . V | Q V B V Q V D V | 8 V | E V E V E V | 40 BB V V Q 12pt Paragraph Finished