Microeconomics

The key difference between the Pareto optimality and Pareto superiorit

The key difference between the Pareto optimality and Pareto superiority is that ______. a. Pareto optimality is incompatible with utilitarianism, while Pareto superiority is compatible b. Pareto superiority is superior to Pareto optimality c. Pareto optimality requires interpersonal utility calculations, while Pareto superiority does not d. Pareto optimality refers to a state of the world […]

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Date: September 9th, 2020

Which of the following are reasons to consider the protective role of

Which of the following are reasons to consider the protective role of the state in an economic framework? a. The protection of rights is necessary for a functioning economy. b. The protection of rights comprises a large portion of the government spending. c. The protection of rights is necessary for international trade. d. Both a […]

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Date: September 9th, 2020

The right of people to receive the value of their output as determined

The right of people to receive the value of their output as determined by the market _____. a. leads to people pursuing their own selfish ends, with little regard for others b. leads individuals to produce only goods that will appeal to the masses c. provides strong incentives to produce goods that will make themselves […]

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Date: September 9th, 2020