Multiple Choice
The implication that all gains from trade are realized in a competitive equilibrium is implied by:
A) the law of large numbers.
B) Walras's law.
C) the first theorem of welfare economics.
D) the second theorem of welfare economics.
Correct Answer:
Verified
Correct Answer:
Verified
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Q29: A given allocation in Edgeworth box is
Q30: The aggregate demand in an Edgeworth box
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