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Assignment 6-Q2 Suppose that there are 1000 units of products (money) in an closed society with 1000 residents. Which of the

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business economics

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Answer 1

Answer #1

solution: Situation 1,2 and 3 are pareto optimal. Situation 4 is pareto non -obtimal. Situation 1 - If unit 1 is given to any

unit is distributed among 999 residente Now, if remaining one unit of money is given to any resident, he will be better off a

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Answer 2

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