The above figure depicts the Edgeworth box for two individuals, Al and Bruce. Point a is NOT Pareto efficient because
A) Al's MRS exceeds Bruce's MRS.
B) the point is not near the center of the box.
C) Al's indifference curve is not far enough away from the origin.
D) All of the above.
A
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Historical biography: The entrepreneur who created the General Electric Company was
a. John D. Rockefeller b. Thomas Edison c. James Duke d. Andrew Carnegie e. Alexander Graham Bell
The selling of a good or service abroad at a price below production costs is
A. price discrimination. B. price differentiation. C. dumping. D. marginal cost selling.
The government has traditionally dealt with externalities by directive rather than by price
Indicate whether the statement is true or false
Membership in the Federal Reserve System
A) is held by state-owned banks only. B) is held collectively by all banks in the banking system. C) is held by only a minority of banks in the banking system. D) is held by banks that also have branches outside the United States.