$20 is to be divided among two individuals—Gary and Jamie. Which of the following allocations is NOT Pareto efficient?
A) Gary receives $1, and Jamie receives $19.
B) Gary receives $19, and Jamie receives $1.
C) Gary receives $8, and Jamie receives $9.
D) Gary receives $15, and Jamie receives $5.
C
Economics
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An increase the expected future price of a good
A) increases its demand. B) decreases its demand. C) increases its supply. D) has no effect on either its demand or its supply.
Economics
If a market produces a level of output that exceeds the competitive equilibrium output, then
A) social welfare will be higher. B) producer surplus will be higher. C) marginal cost will exceed price. D) All of the above.
Economics