Multiple Choice
When the marginal rates of substitution [MRSs] for a given distribution of goods differ for two parties,which of the following is incorrect?
A) Mutually beneficial trade is possible.
B) Indifference curves are intersecting.
C) The efficient outcome is unique.
D) Trade can make at least one party better off.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Which of the following is the best
Q9: Suppose,given their initial endowments of milk [M]
Q10: use the following table to answer the
Q11: If the MRS at an initial market
Q12: Trade between two consumers will continue until
Q14: Nonprice rationing systems usually are:<br>A)inefficient because it
Q15: Economic efficiency is sometimes referred to as
Q16: Which of the following must be true
Q17: The initial endowment of goods:<br>A)has no effect
Q18: Use the follwoing figure to answer the