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Define the competitive equilibrium for the simple one-period model in Chapter 5. Be specific about what it is, what conditions have to be satisfied, who

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Define the competitive equilibrium for the simple one-period model in Chapter 5. Be specific about what it is, what conditions have to be satisfied, who solves what problems. Under which theorem is the competitive equilibrium guaranteed to be Pareto-optimal? (So that the model economy satisfies all the theorem conditions)

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