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PLEASE DRAW AN EDGEWORTH BOX. In an Edgeworth box, illustrate that a Pareto-efficient equilibrium, point a, can be obtained by competition, given an appropriate endowment. Do so by identifying an initial endowment point, b, located somewhere other than at point a, such that the competitive equilibrium (resulting from competitive exchange) is a. Explain..

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PLEASE DRAW AN EDGEWORTH BOX. In an Edgeworth box, illustrate that a Pareto-efficient equilibrium, point a, can be obtained by competition, given an appropriate endowment. Do so by identifying an initial endowment point, b, located somewhere other than at point a, such that the competitive equilibrium (resulting from competitive exchange) is a. Explain.

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