The First Fundamental Theorem of Welfare Economics Indicates That

The first fundamental theorem of welfare economics indicates that

A) every Pareto-optimal allocation for an economy can be achieved as a competitive equilibrium for an appropriately defined distribution of income
B) an economy should be organized so as to maximize the welfare of the least well-off person in society
C) when a competitive equilibrium exists, the allocations of inputs and outputs in the economy define a Pareto-optimal outcome