According to the First Theorem of Welfare Economics

question 59

Multiple Choice

According to the first theorem of welfare economics:

• A)every competitive equilibrium is fair.
• B)if the economy is in a competitive equilibrium, there is no way to make anyone better off.
• C)a competitive equilibrium always exists.
• D)at a Pareto optimum, all consumers must be equally wealthy.
• E)None of the above.

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