What does the second welfare theorem predict

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Reference no: EM131335472

1. How does the production contract curve relate to Pareto efficiency?

2. How does the production possibilities frontier relate to the marginal rate of transformation?

3. What conditions are required for the First Welfare Theorem to hold?

4. What does the Second Welfare Theorem predict?

Reference no: EM131335472

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What does the second welfare theorem predict : How does the production possibilities frontier relate to the marginal rate of transformation?

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