Discuss the second welfare theorem.How can societies use competitive markets to achieve both efficiency and equity?
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Q40: The principle of equal opportunity is an
Q41: A point inside the production possibility frontier
Q42: The input efficiency condition:
A) holds if at
Q43: An allocation satisfies the output efficiency condition
Q44: The marginal rate of transformation from good
Q46: A point outside of the production possibility
Q47: A point along the production possibility frontier
Q48: Compare and contrast the principles of utilitarianism,Rawlsianism
Q49: The idea that every Pareto efficient allocation
Q50: A market failure:
A) is a source of
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