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0 0 a) What is the name given to the diagram above? I b) If equilibrium is on point (F), which good uses mo c)
0 0 a) What is the name given to the diagram above? I b) If equilibrium is on point (F), which good uses mo c) What are the names of the curves Y2 and X2 that are tangential at po d) What is the name of the curve that runs from points Ox F, G. e) Define Pareto efficiency. [2 MARKS] f) Distinguish Pareto Efficiency and Pareto Optimal. 16 MARKS g) State the efficiency in output Mix[2 MARKS] h) "Paret 2 MARKS] al at point (G)? 12 MARKS H to Oy? [2 MARKS] o allocation can be achieved as a competitive equilibrium after a suitable redistribut nitial endowments" Discuss [10 MARKS]
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