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If Everyone's Utility Function Includes Only Conspicuous Consumption Goods

Question 83

Multiple Choice

If everyone's utility function includes only conspicuous consumption goods:


A) the market will lead to the highest social welfare.
B) the market will lead to higher social welfare than it otherwise would.
C) we can say nothing about market and social welfare.
D) the market will lead to lower social welfare than it otherwise would.

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