The Fact That Any Pareto-Efficient Equilibrium Can Be Achieved Through

question 56

Multiple Choice

The fact that any Pareto-efficient equilibrium can be achieved through competition by adjusting endowments is called

• A) the Second Welfare Theorem.
• B) the First Welfare Theorem.
• C) the Third Welfare Theorem.
• D) That is not possible.

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Definitions:

Extra-

A prefix meaning outside, beyond, or in addition to.

Inside

The inner part or space of something.

Inner

Pertaining to or situated on the inside; internal.

Insomnia

A common sleep disorder characterized by trouble falling asleep, staying asleep, or getting restful sleep.