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Author Question: Explain why Robin Hood's practice of stealing from the rich to give to the poor is never Pareto ... (Read 58 times)

nmorano1

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on: Jul 1, 2018
Explain why Robin Hood's practice of stealing from the rich to give to the poor is never Pareto efficient.
 
  What will be an ideal response?

Question 2

In the short run, a firm 's output level is 10 units. Its total cost is 4000 and its average fixed cost is 100. What is this firm's average variable cost (AVC) of producing 10 units?
 
  A) AVC = 250
  B) AVC = 275
  C) AVC = 300
  D) AVC = 400
Microeconomics ¦ Perloff ¦ 8th Edition
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morrie123456

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Reply #1 on: Jul 1, 2018
Answer to Question 1

When Robin steals from the rich, those people are made worse off. This cannot be Pareto efficient.

Answer to Question 2

C


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