"Any Social Planner Who Implements Efficient Outcomes Will Produce the Same

Multiple Choice

"Any social planner who implements efficient outcomes will produce the same output in a given market as the competitive market would." In addition to the conditions of the first welfare theorem, which of the following have to hold in order for the statement in quotes to be true?

A) Consumer tastes are quasilinear.
B) Consumer tastes are homothetic.
C) Production frontiers are homothetic.
D) Both (a) and (c) .
E) Both (b) and (c) .
F) None of the above.