Answer to Question #188623 in Economics for Kaumudi

Question #188623

Potential Pareto Optimal?

Critically discuss using Utility Possibility Frontier.


1
Expert's answer
2021-05-04T12:16:45-0400

In a competitive economy, any allocation over the utility–possibility frontier is a Pareto optimum, as the UPF is a representation of the Pareto contract curve in a different dimension (utilities rather than goods).


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