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Question 1: Carefully explain the following concepts, illustrating your answer with diagrams where appropriate : (i) an actual Pareto improvement; (ii) a potential Pareto improvement;
- Question 1:
- Carefully explain the following concepts, illustrating your answer with diagrams where appropriate :
- (i) an actual Pareto improvement;
- (ii) a potential Pareto improvement;
- (iii) the Kaldor-Hicks criterion
(iv) the Scitovsky criterion.
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Issues in Economics Today
Authors: Robert C. Guell
8th edition
1259746399, 1259746390, 978-1259746390
