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Drop the assumption that consumers have strictly monotonic utility functions. Prove that in a pure ex- change economy, if all consumers satisfy local nonsatiation, and
Drop the assumption that consumers have strictly monotonic utility functions. Prove that in a pure ex- change economy, if all consumers satisfy local nonsatiation, and if (p, x) is a competitive equilibrium, then x is Pareto efficient. Hint: Most of the proof is the same as the one you have seen
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