Suppose there are two consumers A and B
The utility functions of each consumer are given by Ua(X,Y)=X+Y Ub(X,Y)=Min(X,Y) The initial endowments are A X=2; Y=4 B X=4; Y=2 Illustrate the initial endowments in and Edgeworth Box. Be sure to label the Edgeworth Box carefully and accurately, and…