Beat egg and milk with wire whisk until well blended; set aside. Drain macaroni. Spoon half of the macaroni over butter in baking dish; sprinkle with 1 cup EACH of the Velveeta & cheedar cheese. Add half of the egg mixture. Repeat layers of macaroni, Velveeta, cheddar cheese and egg mixture. Sprinkle lightly with paprika.
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