« previous next »

Author Question: In a two-agent two-good economy, a Pareto-efficient allocation implies that A) no further ... (Read 76 times)

kfurse

  • Hero Member
  • *****
  • Posts: 590
on: Jul 1, 2018
In a two-agent two-good economy, a Pareto-efficient allocation implies that
 
  A) no further mutually beneficial trades are possible.
  B) agents' indifference curves intersect each other.
  C) agents' marginal rate of substitution are different.
  D) agents' marginal rate of transformation are different.

Question 2

If average cost is decreasing,
 
  A) marginal cost equals average cost.
  B) marginal cost exceeds average cost.
  C) marginal cost is less than average cost.
  D) Not enough information is given.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


britb2u

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
A good Mnemonic to know Mg K Ca Na A good Mnemonic to know Mg K Ca Na
Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ... Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ...
Good ethical judgment comes from both learning and experience. Good ethical judgment comes from both learning and experience.
Good alignment for sitting posture. Good alignment for sitting posture.
Nuts are also a good source of B group vitamins (including folate), and vitamin E Nuts are also a good source of B group vitamins (including folate), and vitamin E
Video: Sister chromatids of a metaphase chromosome animation

For a complete list of videos, visit our video library