Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A's utility function is given by: UA(X. Y) = X*Y3 And consumer B's utility function is given by UB(X,Y) = X*Y. Therefore, consumer A's marginal utilities for each good are given by: MUy = Y3 MUy=3X*Y2 Also, consumer B's marginal utilities for each good are given by: MUx= Y MUy = X Initial Endowments are given by Person A has 40 units of good X and 20 units of good Y. Person B has 30 units of good X and 20 units of good Y. Suppose Py = 1, a) What is the value of Py that will result in a competitive equilibrium? (Ans: Py=1/3, but I don't know why) b) How much of each good will each consumer demand in equilibrium

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