The fact that at the competitive equilibrium nobody can be made better off without making someone else worse off implies that
A) the equilibrium is pareto efficient.
B) the equilibrium is not pareto efficient.
C) the prices need to adjust further.
D) further gains from trade are possible.
Correct Answer:
Verified
Q45: Consider a society consisting of just a
Q46: A competitive equilibrium is Pareto efficient because
Q48: The fact that any pareto efficient equilibrium
Q50: Consider a society consisting of just a
Q51: According to the Fundamental Theorems of Welfare
Q52: There are two consumers in the market,Jack
Q53: For a given set of prices,two consumers
Q53: Consider a society consisting of just a
Q54: A competitive equilibrium is not Pareto efficient
Q57: A competitive equilibrium is Pareto efficient because
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