Consider an exchange economy with its transformation equation X2+2Y−100=0. All those produced in the economy are distributed to two consumers. Consumer A consumes (2,16 ) (Consumption mix quoted as (number of X, number of Y ).) Consumer B consumes (6,2). Their preferences are described by the following functions. UA=xA0.5yA0.5 and UB=3lnxB+yB. Question 1 ( 2 points) The economy produces ____A units of Good X and ___A units of Good Y. Question 2 The economy's production is efficient, for there is no way to produce more of one good without reducing the production of the other. True or False

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