In Pareto welfare economics, Efficiency in the allocation of factors among commodities is related to

Related MCQs

• In Pareto welfare economics, Efficiency of the allocation of factors among firms is related to
• In Pareto welfare economics, Efficiency of distribution of commodities among consumers 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.
• If some allocation of resources is Pareto efficient, then that allocation satisfies:
• A famous welfare economics book called, “Economics of Welfare” was written by
• The marginal condition for a Pareto-optimal or -efficient distribution of commodities among consumers requires that the MRS between ______ be equal for all consumers.
• The concept of ‘Social Welfare Function’ was propounded by A. Bergson in his article ‘A Reformulation of Certain Aspects of Welfare Economics’ published in the year 1938
• When the allocation of resources is Pareto efficient
• When two commodities X and Y must be allocated among consumers, a necessary condition for distributive efficiency is that:
• Who defines economic welfare as “that part of social (general) welfare that can be brought directly or indirectly into relation with the measuring rod of money.”