The First Fundamental Theorem of Welfare Economics requires
A) producers and consumers to be price takers.
B) that there be a market for every commodity.
C) that the economy operate at some point on the utility possibility curve.
D) all of these answer options are correct.

Question

Quizplus · Accepted Answer

The First Fundamental Theorem of Welfare Economics requires producers and consumers to be price takers, that there be a market for every commodity, and that the economy operate at some point on the utility possibility curve. Therefore, all of the given answer options are correct.

The First Fundamental Theorem of Welfare Economics Requires