When the allocation of resources is Pareto efficient
A) society is providing the greatest good to the greatest number.
B) no consumer would prefer someone else's consumption bundle to his or her own.
C) it is not feasible to make someone better off without making someone worse off.
D) it is feasible to make someone better off without making someone worse off.
Correct Answer:
Verified
Q1: Bergson's name is associated with
A)Social welfare function
B)Pareto
Q2: Which among the following is NOT a
Q4: If some allocation of resources is Pareto
Q5: When two commodities X and Y must
Q6: The necessary condition for allocative efficiency is
Q7: The Fundamental Theorem of Welfare Economics:
A)shows that
Q8: If an economy operates on its production
Q9: If a brother and sister return home
Q10: Growth of GNP as A Criterion of
Q11: Welfare is improved when 'the greatest good
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