If one is at a point on the contract curve
A) No other allocation of resources is Pareto optimal
B) Society must have achieved a fair outcome
C) Society ,must have achieve an efficient outcome
D) Society must have achieve an equitable outcome
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Q12: Given an initial allocation of resources that
Q13: According to the invisible hand theorem, as
Q14: On the consumption contract curve
A)All indifference curves
Q15: If one is on the contract curve
A)The
Q16: According to the second welfare theorem
A)The issues
Q18: A tax on all goods consumed
A)Would not
Q19: In an economy, which of the following
Q20: In the Edgeworth box shown below,
Q21: The diagram above shows the general equilibrium
Q21: What is wrong in an economy when
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