If efficiency has been attained,
A) it will be possible to make any one person better off without harming another.
B) it will not be possible to make any one person better off without harming another.
C) perfect competition must exist.
D) the opportunity cost of any change in resource use must be zero.
Correct Answer:
Verified
Q17: If it is not possible to make
Q18: Points lying below a utility possibility curve
Q19: Efficient outcomes are often viewed as inequitable.
Q20: The normative approach to public finance prescribes
Q21: Positive economics is:
A)an equity-based approach in which
Q23: Points on a utility possibility curve represent:
A)a
Q24: Pareto efficiency between two consumers is achieved:
A)only
Q25: If the marginal social benefit of a
Q26: If the efficient output of a good
Q27: Diamonds are sold by a monopoly firm
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