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5. General Equilibrium 2 (20 points) The utility for consumer 1 and 2 are: U1(x11,x12)=A[(x11)p+(x
12)p]1/p U2(x21,x22)=B[(x21)b+(x22)6]1/6 a. Characterize the Pareto efficient allocation and
contract curve (10 points). b. Characterize the competitive equilibrium if W1=(3,0) and W2=(0,4)
(10 points).

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