The key difference between the Pareto optimality and Pareto superiority is that ______.
a. Pareto optimality is incompatible with utilitarianism, while Pareto superiority is compatible
b. Pareto superiority is superior to Pareto optimality
c. Pareto optimality requires interpersonal utility calculations, while Pareto superiority does not
d. Pareto optimality refers to a state of the world while Pareto superiority compares two states of the world
Question 2
If the utility function (U) between food (F) and clothing (C) can be represented as U = , the marginal rate of substitution of clothing for food equals
A) -C/F.
B) -F/C.
C) - .
D) - .
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