Multiple Choice
The efficiency in production requires:
A) MRT is equal to MRTS for all firms.
B) each consumer's MRS is identical with MRT.
C) MRTS are identical for all firms.
D) efficiency of the product mix.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q34: At a point on the contract curve:<br>A)nobody
Q35: In a many- person exchange economy, given
Q36: Discuss briefly the nature of the controversy
Q37: Efficiency in consumption requires that all consumers:<br>A)have
Q38: A per- unit tax placed on the
Q40: Consider an economy with two consumers, consumer
Q41: Which of the following is a necessary
Q42: In a general equilibrium model, an allocation
Q43: The second welfare theorem:<br>A)states that a Pareto-
Q44: If a given allocation in Edgeworth box