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Author Question: The fact that any Pareto-efficient equilibrium can be achieved through competition by adjusting ... (Read 225 times)

bcretired

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on: Jul 1, 2018
The fact that any Pareto-efficient equilibrium can be achieved through competition by adjusting endowments is called
 
  A) the Second Welfare Theorem.
  B) the First Welfare Theorem.
  C) the Third Welfare Theorem.
  D) That is not possible.

Question 2

A firm's cost curve is determined by
 
  A) congressional laws.
  B) whether the firm hires engineers or not.
  C) natural laws.
  D) the firm's production function.
Microeconomics ¦ Perloff ¦ 8th Edition
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Athena23

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

A

Answer to Question 2

D


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bcretired

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Reply #2 on: Jul 1, 2018
Thank you :)


Athena23

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Reply #3 on: Jul 1, 2018
Happy to help you


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