If an economy operates on its production possibility curve, then the allocation of resources in that economy satisfies:

Related MCQs

• If some allocation of resources is Pareto efficient, then that allocation satisfies:
• When the allocation of resources is Pareto efficient
• In Pareto welfare economics, Efficiency in the allocation of factors among commodities is related to
• In Pareto welfare economics, Efficiency of the allocation of factors among firms is related to
• The marginal condition for a Pareto-optimal allocation of factors requires that the ________ between labour and capital be equal for all commodities produced by different firms.
• In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then,
• If capital is available in large proportion and labour is less, then that economy is known as
• Every factor of production gets reward equal to its:
• Who has sought to measure Consumer’s Surplus with the help of indifference curve technique?
• Sometimes the supply curve of labour ends: