A competitive equilibrium is Pareto efficient because at the competitive equilibrium,
A) prices have been allowed to adjust.
B) there are no further gains from trade.
C) the final outcome is different from the original inefficient endowment.
D) all members of society can be made better off.
Question 2
Which of the following will cause the average fixed cost curve of making cigarettes to shift?
A) a 5 million penalty charged to each cigarette maker
B) a 1 per pack tax on cigarettes
C) a 3 per hour wage increase
D) an increase in the demand for cigarettes
Comparison of reactions at equilibrium and steady state
Chemical equilibrium and the law of mass action.
Prices in Japan before and after Opening to Trade
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
What will be the pH of the solution once equilibrium is established?
One generation of random mating produces Hardy–Weinberg equilibrium