If an action creates more total benefits for gainers than total harm to losers,
a. that action would be a Pareto improvement.
b. taking that action would improve efficiency
c. the government should step in to take that action
d. a side payment exists that would make the action a Pareto improvement
e. any side payment would make the action inefficient
D
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Firms in an oligopoly often do not collude with each other because ________
A) collusion lowers profit B) collusion increases the cost of production C) collusion is illegal D) collusion increases competition
A non-discriminating pure monopolist is generally viewed as:
A. Productively efficient, but allocatively inefficient B. Productively inefficient, but allocatively efficient C. Both productively and allocatively inefficient D. Both productively and allocatively efficient