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Author Question: A ________ system is one in which all possible trades that make some societal members better off ... (Read 16 times)

swpotter12

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on: Apr 19, 2019

Question 1

In perfect competition, when firms are maximizing profits and households are maximizing utility


◦ Pareto optimality has been obtained.
◦ voluntary exchange can be used to make both firms and households better off.
◦ the outcome is inefficient.
◦ individual welfare is maximized, but social welfare is not.

Question 2

A ________ system is one in which all possible trades that make some societal members better off without making others worse off have been exhausted.


◦ Pareto maximized
◦ Pareto optimal
◦ market
◦ general equilibrium
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by swpotter12 on Apr 19, 2019

brittanywood

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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swpotter12

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

alvinum

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Reply 3 on: Yesterday
Excellent

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