toolsofnormativeanalysis(參考版)
2024-08-23 17:17本頁面
【正文】 ? and MRTaf is 2/3, which means the economy can produce 2 more fig leaves by reducing production of apples by 3. 316 ? In this case, Adam can surely increase his utility level of fig leaves from 1 to 2 without promising Eve’s benefits. ? Therefore, only when MRTaf = MRSAdamaf = 2/3, Pareto improvement is stopped and Pareto efficient is reached. ? Same process works for Eve’s MRS. 317 The First Fundamental Theorem of Welfare Economics 318 ? conditions 1) All producers and consumers act as perfect petitors, no one can influence the market. 2) A market exists for each and every modity 319 The First Fundamental Theorem of Welfare Economics ? The first fundamental theorem of welfare economics states that a Paretoefficient allocation of resources emerges. 320 Adam Smith’s “Invisible Hand” ? This mean a petitive economy allocates resources efficiently without any need for centralized directio
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