Economics · Welfare Economics
The First Fundamental Theorem of Welfare Economics states that:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1a competitive equilibrium is Pareto efficient.✓
- 2all prices are equal in a competitive equilibrium.
- 3a competitive equilibrium maximizes profit.
- 4a competitive equilibrium is not Pareto efficient.
Correct answer
a competitive equilibrium is Pareto efficient.
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