This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: How is a potentially efficient change different from a Pareto optimal change? What will be an ... (Read 113 times)

j.rubin

  • Hero Member
  • *****
  • Posts: 557
on: Jun 29, 2018
How is a potentially efficient change different from a Pareto optimal change?
 
  What will be an ideal response?

Question 2

Refer to Table 4-4. If a minimum wage of 10.50 an hour is mandated, what is the quantity of labor demanded?
 
  A) 400,000 B) 370,000 C) 340,000 D) 60,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SeanoH09

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

For a potentially efficient change, benefits must exceed costs; however, some people can be made worse off as a result. In a Pareto optimal solution, no party is made worse off due to a change.

Answer to Question 2

C


j.rubin

  • Member
  • Posts: 557
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

parshano

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

The induced conformational change in hexokinase The induced conformational change in hexokinase
Fossil fuel emissions and climate change Fossil fuel emissions and climate change
The change in the net of an irradiance, in Wm-2, at the tropopause The change in the net of an irradiance, in Wm-2, at the tropopause
Ice cores as indicators of environmental change Ice cores as indicators of environmental change
Ice cores: Periods of rapid climate change especially in North Atlantic Ice cores: Periods of rapid climate change especially in North Atlantic
A Change of Heart A Change of Heart
Video: Osmosis - water transport

For a complete list of videos, visit our video library