The firm's most efficient level would be

The idea that saving equals investment in the Solow model means that a steady state can be reached only when

A) s = k. B) s = n + d. C) sf(k) = (s + d)k. D) sf(k) = (n + d)k.

Market failure occurs when

a. all Pareto improvements are undertaken b. refusal to make a side payment reduces Pareto efficiency c. the economy operates above the production possibilities frontier d. markets are perfectly competitive e. some Pareto improvements are not made