Multiple Choice
The first theorem of welfare economics states that:
A) a competitive equilibrium is Pareto efficient.
B) a competitive equilibrium is Pareto inefficient.
C) a competitive equilibrium, while unrealistic, is desirable.
D) a competitive equilibrium maximizes wealth.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q54: The MRT is the absolute value of
Q55: In exchange economy the price of goods
Q56: Efficiency in production requires that<br>A)MRTS is equal
Q57: In a two- person to good world,if
Q58: An economy produces two goods with two
Q60: In an Edgeworth Box Diagram, the contract
Q61: In a perfectly competitive economy, the imposition
Q62: The issue of efficiency is concerned with:<br>A)the
Q63: The doctrine of natural identity of interest
Q64: The size of the Edgeworth box for