Microeconomics

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If only two people are trading their endowments and no production is possible, then the equilibrium ... Started by big1devin	1 Replies 14 Views	Jul 1, 2018 by gabrielle_lawrence
When considering trade of two goods between two people, if one person has all the endowment of both ... Started by luminitza	1 Replies 98 Views	Jul 1, 2018 by mbcrismon
When two people are on the contract curve, the allocation of goods A) cannot be improved. B) is ... Started by APUS57	3 Replies 28 Views	Jul 1, 2018 by momtoalll
Gains from trade will be possible as long as A) levels of utility differ. B) utility functions ... Started by tnt_battle	1 Replies 62 Views	Jul 1, 2018 by strudel15
The term born with a silver spoon in his mouth mistakenly implies A) only monetary endowments ... Started by nmorano1	1 Replies 26 Views	Jul 1, 2018 by mmj22343
Which of the following is (are) the typical assumption(s) used in the study of mutually beneficial ... Started by washai	1 Replies 17 Views	Jul 1, 2018 by kaillie
In a two-agent two-good economy, a Pareto-efficient allocation implies that A) no further ... Started by kfurse	1 Replies 23 Views	Jul 1, 2018 by britb2u
Any point on the contract curve is Pareto efficient regardless of the initial endowment. Indicate ... Started by WhattoUnderstand	1 Replies 46 Views	Jul 1, 2018 by wergv
If two grade-school children willingly trade their lunches with one another, we can conclude that at ... Started by darbym82	1 Replies 41 Views	Jul 1, 2018 by coyin
When two people trade their initial endowments to a point on the contract curve, only the level of ... Started by Chelseaamend	1 Replies 40 Views	Jul 1, 2018 by lorealeza
Explain why having different marginal rates of substitution is necessary for trade to occur. What ... Started by imowrer	3 Replies 26 Views	Jul 1, 2018 by k2629
The First Theorem of Welfare Economics can be expressed as A) the competitive equilibrium results ... Started by Zulu123	1 Replies 25 Views	Jul 1, 2018 by alexanderhamilton
An initial allocation of goods is called a(n) A) endowment. B) inheritance. C) pareto set. D) ... Started by karlynnae	1 Replies 35 Views	Jul 1, 2018 by meow1234
Suppose two people start with an initial endowment and trade until they obtain a Pareto-efficient ... Started by audie	1 Replies 31 Views	Jul 1, 2018 by TINA
In a competitive marketplace, prices adjust until A) MRS's are equal to zero. B) excess supply ... Started by CBme	1 Replies 79 Views	Jul 1, 2018 by deja
A competitive equilibrium is Pareto efficient because at the competitive equilibrium, A) prices ... Started by FButt	1 Replies 51 Views	Jul 1, 2018 by Zebsrer
The fact that at the competitive equilibrium nobody can be made better off without making someone ... Started by sjones	1 Replies 27 Views	Jul 1, 2018 by k.lashomb
Any competitive equilibrium is Pareto efficient because, with a competitive equilibrium, A) the ... Started by FButt	1 Replies 74 Views	Jul 1, 2018 by Viet Thy
The fact that any Pareto-efficient equilibrium can be achieved through competition by adjusting ... Started by bcretired	3 Replies 175 Views	Jul 1, 2018 by Athena23
For a given set of prices, two consumers choose bundles that are off the contract curve. In a ... Started by lak	1 Replies 67 Views	Jul 1, 2018 by Moriaki
In a competitive market, prices adjust until all consumers find themselves A) maximizing utility. ... Started by Zulu123	1 Replies 209 Views	Jul 1, 2018 by cdmart10
The so-called death tax might A) aim to alter endowments so as to attain an inefficient outcome. ... Started by skymedlock	1 Replies 35 Views	Jul 1, 2018 by brittiany.barnes
True or false? The Edgeworth box version of interpersonal trade requires the individuals to be in ... Started by shenderson6	1 Replies 35 Views	Jul 1, 2018 by Bigfoot1984
In a two-agent and two-good economy, a competitive market equilibrium occurs when A) the agents' ... Started by OSWALD	1 Replies 17 Views	Jul 1, 2018 by b614102004
A competitive equilibrium is not Pareto efficient if some members of society are unable to afford a ... Started by bobypop	1 Replies 40 Views	Jul 1, 2018 by triiciiaa