The fact that at the competitive equilibrium nobody can be made better off without making someone else worse off implies that
A) the equilibrium is Pareto efficient.
B) the equilibrium is not Pareto efficient.
C) the prices need to adjust further.
D) further gains from trade are possible.
A
Economics
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A) the natural environment. B) a factor of production that has been produced. C) financial assets. D) money.
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In the short run, the profit maximizing (or minimizing) quantity of output for any firm to produce exists at that output level at which marginal revenue equals marginal cost
a. True b. False Indicate whether the statement is true or false
Economics