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There are two consumers in the market, Jack and Jane. Each have some coffee and candies (coffee on ...

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There are two consumers in the market, Jack and Jane. Each have some coffee and candies (coffee on ...

There are two consumers in the market, Jack and Jane. Each have some coffee and candies (coffee on the horizontal axis). Jack's MRS of candies for coffee is 3. Jane's MRS of candies for coffee is 3. Which one of the following statements is incorrect?
A) This allocation is on the contract curve.
B) This can be a competitive equilibrium.
C) This allocation is Pareto efficient.
D) We can reallocate goods so as to make one person better off without harming another.

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Microeconomics: Theory and Applications with Calculus

Edition: 4^th

Author: Perloff

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MrGrimey Author

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6 years ago

This helped my grade so much Perfect

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Good timing, thanks!

homework1

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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