Outcome-oriented notions of equity:
A) focus on the procedures used to arrive at an allocation of resources rather than on the allocation itself.
B) focus on whether the process used to allocate resources yields fair results.
C) include process-oriented notions of equity.
D) focus on what people could choose rather than what they actually choose.
Correct Answer:
Verified
Q19: Suppose milk and cereal are compliments and
Q20: Suppose milk and cereal are compliments and
Q21: An allocation of resources is Pareto efficient
Q22: In an exchange economy:
A) people produce goods,
Q23: Each of the following statements is true
Q25: Suppose milk and cereal are compliments and
Q26: The most commonly used notion of economic
Q27: The Edgeworth box:
A) is a diagram that
Q28: Process-oriented notions of equity:
A) focus on the
Q29: According to the principle of utilitarianism:
A) society
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