cook 16oz. elbow macaroni as directed on package. cut up 1/4 cup of butter into small pieces and plce in bottom of 13 x 9 baking pan. drain macaroni place 1/2 of macaroni over butter sprinkle with 1 cup each cubed velvetta and shredded cheddar cheese. beat one egg and 2 1/2 cupsmilk untl blended pour 1/2 of egg mixture over ingredients in pan repeat layers of macaroni, cheese and egg mixture.sprinkle with paprika. bake 15 minute stir until blended bake 15 minute more or until golden brown.