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BrendanOO7 BrendanOO7
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6 years ago
Mr. X, an American, loses his job due to foreign competition.  Mr. Y, an American, loses his job because other Americans shifted their demand to other goods produced in America.  Both lose when these events occur.  Excluding the utility of foreigners from consideration, these events are Pareto optimal when
A) Mr. X is compensated for his loss.
B) Mr. Y is compensated for his loss.
C) Both Mr. X and Mr. Y are compensated for their loss.
D) Both events are optimal without any compensation to either Mr. X or Mr. Y.
Textbook 
Modern Labor Economics: Theory and Public Policy

Modern Labor Economics: Theory and Public Policy


Edition: 12th
Authors:
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ShadiasShadias
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Just got PERFECT on my quiz
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This site is awesome
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