The First Theorem of Welfare Economics can be expressed as
A) the competitive equilibrium results only when no transactions costs exist.
B) the competitive equilibrium does not involve reallocation of endowments.
C) any efficient allocations can be achieved by competition.
D) the competitive equilibrium is efficient.
D
Economics
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When the government deregulates a product or service, what happens to it?
(A) Some government regulations over the industry are eliminated. (B) Government control over the industry is stopped. (C) The product or service is available to more people. (D) The product or service becomes cheaper.
Economics
Explain why the average cost curve for the long run differs from that for the short run
Economics