Question
An allocation is weakly Pareto ecient if there is no alternative allocation that makes all agents strictly better off. (a) Show that if an allocation
An allocation is weakly Pareto ecient if there is no alternative allocation that makes all agents strictly better off. (a) Show that if an allocation is strongly Pareto ecient, it is also weakly Pareto ecient. (b) Give an example in which an allocation is weakly Pareto ecient, but not strongly so.
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Intermediate Microeconomics and Its Application
Authors: Walter Nicholson, Christopher M. Snyder
12th edition
978-1133189022, 1133189024, 1133189032, 978-1305176386, 1305176383, 978-0357687000, 978-1133189039
