Multiple Choice
An economy's product- mix is said to be efficient if:
A) all MRSs are the same with the MRT.
B) there is efficiency in production.
C) there is efficiency in consumption.
D) there is efficiency in both production and consumption.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
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
Q45: If, in a general equilibrium framework, MRT
Q47: The analysis of general equilibrium had revealed
Q48: In an exchange economy, the Walrasian auctioneer
Q49: If a monopolist engages in ordinary price
Q50: The first theorem of welfare economics implies
Q51: Which of the following policies might eliminate