Which of the following is not a condition required for the first welfare theorem to hold:
A. No government policy interferes with the formation of prices.
B. No market actor has market power.
C. Tastes are quasilinear.
D. Income is distributed fairly before markets open.
E. (a) and (c)
F. (b) and (c)
G. (c) and (d)
H. (b) and (d)
Answer: G
Economics
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