When considering trade of two goods between two people, if one person has all the endowment of both goods, this allocation
A) is never on a contract curve.
B) will result in trade so each person has all of one good.
C) will result in trade to a equal division of goods between the two people.
D) is Pareto efficient.
D
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If firms are producing an output greater than planned expenditures, these firms will cut back on production, which decreases GDP
Indicate whether the statement is true or false
If Jennifer withdraws $750 from her checking account and holds it as currency, then M1 will ________ and M2 will ________
A) decrease; not change B) not change; increase C) decrease; decrease D) not change; not change
Income mobility is:
A. how likely the income associated with each job in the country will change in relative terms. B. how likely the income associated with each job in the country will increase over time. C. how much income is stored in offshore banks. D. the ability to improve one's economic circumstances over time.
Exhibit 3 Demand and cost curves for GeneTech, a monopolist with a patented vaccine
Consider Exhibit 9-3. Suppose GeneTech's patent expires and the market for the vaccine becomes perfectly competitive. Which of the following price and quantity combinations would be most likely?
A. $45 per dose and 100 doses per hour B. $40 per dose and 200 doses per hour C. $35 per dose and 300 doses per hour D. $28 per dose and 450 doses per hour