The First Theorem of Welfare Economics states that: a. only ...

[LaDunn]

The First Theorem of Welfare Economics states that:
 a. only Walrasian equilibria can be Pareto optimal.
  b. all Walrasian equilibria are Pareto optimal.
  c. a Walrasian equilibrium price vector can always be found.
  d. some Walrasian equilibria may be unfair.

Question 2

Which of the following would not be classified as a capital expenditure for decision-making purposes?
 a. purchase of a building
  b. investment in a new milling machine
  c. purchase of 90-day Treasury Bills
  d. investment in a management training program
  e. all of the above are capital expenditures

[Gabe]

Answer to Question 1

b

Answer to Question 2

c

[LaDunn]

Thanks for the timely response, appreciate it

[covalentbond]

Wow, this really help