Multiple Choice
The Second Fundamental Theorem of Welfare Economics requires
A) that indifference curves be convex to the origin.
B) that isoquants be concave to the origin.
C) that there are no set prices for Pareto efficient allocations.
D) that production be twice as large as consumption.
E) all of these answer options are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Pareto points in the Edgeworth Box are<br>A)
Q2: Consider an Edgeworth economy where there are
Q4: The contract curve is the collection of
Q5: When the First Fundamental Theorem of Welfare
Q6: Suppose that a competitive firm's marginal cost
Q7: Points outside the production possibility frontier are<br>A)
Q8: Marginal cost of a product is the
Q9: The First Fundamental Theorem of Welfare Economics
Q10: Normative economics is more important than positive
Q11: Points on the utility possibility frontier are<br>A)