Any competitive equilibrium is Pareto efficient because with a competitive equilibrium,
A) the marginal rates of substitution are equal for all consumers.
B) the price line is the contract curve.
C) mutual gains from trade exist.
D) the slope of the price line equals the ratio of the MRS for all consumers.
A
Economics
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Given the same marginal revenue product (MRP) and supply curves, the equilibrium quantity of labor employed in a monopsonistic labor market will be:
a. equal to that in a competitive labor market. b. less than that in a competitive labor market. c. greater than that in a competitive labor market. d. there is insufficient information for a conclusion.
Economics
In the United States during the 1980s, there was a movement toward deregulation of industry
a. True b. False Indicate whether the statement is true or false
Economics