Multiple Choice
Which of the following assumptions does not apply to Edgeworth Box discussions of general equilibrium?
A) Indifference curves are smooth and convex to the appropriate origin.
B) Both goods are essential for all consumers.
C) Economic well being is determined only by the quantities consumed.
D) All Edgeworth Box allocations are Pareto optimal.
Correct Answer:
Verified
Correct Answer:
Verified
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