The First Fundamental Theorem of Welfare Economics States That

question 40

Multiple Choice

The first fundamental theorem of welfare economics states that

• A) under certain conditions, a competitive equilibrium is Pareto optimal.
• B) a competitive equilibrium is always Pareto optimal.
• C) under certain conditions, a Pareto optimum is a competitive equilibrium.
• D) a Pareto optimum is always a competitive equilibrium.

---

Definitions:

Vitamin K

A fat-soluble vitamin essential for blood clotting and healthy bone metabolism.

Calcium

A chemical element with the symbol Ca, which is essential for living organisms, primarily in cell physiology and bone formation.

Osteoporosis

A bone disease characterized by decreased bone density and mass, making bones fragile and more susceptible to fractures.

Vitamin E

A group of eight fat-soluble compounds with antioxidant properties, important for maintaining cell health.