A competitive equilibrium may fail to be Pareto-optimal due to
A) government intervention.
B) social efficiency.
C) inequality.
D) externalities.
E) profit maximizing firms.
Correct Answer:
Verified
Q24: The marginal rate of transformation is
A)is equal
Q25: A Pareto optimum
A)is the slope of the
Q26: In the production function, output is given
Q27: In response to an increase in total
Q28: An increase in total factor productivity involves
A)more
Q30: In a one-period model, government is likely
Q31: In an economic model
A)endogenous variables determine exogenous
Q32: Examples of exogenous variables include
A)labour supply and
Q33: An increase in total factor productivity shifts
Q34: A decrease in total factor productivity could
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