Multiple Choice
Any _________________ allocation of goods and inputs can be attained as a general competitive equilibrium through a judicious ___________ of the economy's___________________. This result is known as_____________
A) arbitrary, allocation, resources; Walras Law.
B) equitable, allocation, goods; The First Fundamental Theorem of Welfare Economics
C) efficient, allocation, scarce supplies of resources; the First Fundamental Theorem of Welfare economics.
D) efficient, allocation, scarce supplies of resources; the Second Fundamental Theorem of Welfare economics.
Correct Answer:

Verified
Correct Answer:
Verified
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