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Part I. (5 points each). Indicate whether each of the following statements is true, false, or uncertain, and explain your answer. Your grade will depend
Part I. (5 points each). Indicate whether each of the following statements is true, false, or uncertain, and explain your answer. Your grade will depend primarily on the quality of your explanation. 1. In the Edgeworth box below, point C is Pareto efficient and therefore it is preferred to point D by both Ann and Bill. B Bill C D Food Contract Curve A Ann Clothing 2. Income redistribution, using a Rawlsian social welfare function, maximizes the utility of society in such a way that each individual has the same income. 3. Demand curves for pure public goods satisfy the law of demand
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