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this is a multiple choice question In which of the following situations will the outcome be optimal (specifically, Pareto optimal) in the equilibrium for the

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this is a multiple choice question

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In which of the following situations will the outcome be \"optimal\" (specifically, Pareto optimal) in the equilibrium for the participants that are specified in the situation? a) each firm in a Cournot model of duopoly chooses its output to maximize its own profit, taking the output of the other firm as given; b) each firm in a Bertrand model of duopoly chooses its price to maximize its own profit, taking the price of the other firm as given; c) each consumer in a market chooses his optimal bundle given his income and the prices, without regard for the decisions of other consumers; d) the outcome is optimal in every one of the above situations; e) the outcome will not be optimal in any of the above situations

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