The Second Welfare Theorem States That

question 96

Multiple Choice

The Second Welfare Theorem states that:

• A) perfectly competitive markets, if Pareto-efficient, are equitable.
• B) Pareto efficiency implies that input allocations are socially desirable.
• C) Pareto efficiency cannot occur if resources are not equitably allocated.
• D) any Pareto-efficient allocation can be achieved in a perfectly competitive market by adjusting the initial allocations of goods.

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Expenses associated with healthcare services, including diagnosis, treatment, and prevention of disease.

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Positive effects on physical and/or mental well-being obtained through particular lifestyle choices, medical treatments, or preventive measures.

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The reasons or driving forces behind individuals' actions or behavior.

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A fundamental truth about what motivates individuals to act in certain ways or pursue particular goals.