A Competitive Equilibrium May Fail to Be Pareto-Optimal Due to

question 25

Multiple Choice

A competitive equilibrium may fail to be Pareto-optimal due to

• A) inequality.
• B) externalities.
• C) social efficiency.
• D) profit maximizing firms.
• E) government intervention.

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Definitions:

Pattern

A repeated decorative design or a model used as a guide in manufacturing processes to replicate part shapes.

Drag

The resistance force encountered by an object moving through a fluid or by a fluid moving around an object.

Cope

To shape or modify the end of a beam or structural element to fit the contours of another, or to allow it to rest securely on a connection.

ASME

The American Society of Mechanical Engineers, an organization that sets standards and codes for engineering practices, including dimensions, tolerances, and technical specifications.