Economics · Welfare Economics
Identify which of the following is NOT a Pareto marginal condition for general equilibrium optimality across the entire economy:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The ratio of marginal utilities must equal the ratio of prices for a single consumer's optimisation.✓
- 2The social rate of time preference must equal the market rate of interest for inter-temporal allocation.
- 3MRTS of any two inputs must be equal across all firms producing any output.
- 4MRS of any two goods must be equal for all consumers in the economy.
Correct answer
The ratio of marginal utilities must equal the ratio of prices for a single consumer's optimisation.
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