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Economics
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If a policy change causes a Pareto improvement, is the outcome necessarily Pareto efficient?

If a situation is Pareto efficient, are Pareto improvements possible?

If a change occurs that causes a Pareto efficient outcome, is the change necessarily a Pareto improvement? Please explain.

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Joshua Stredder
Joshua StredderLv10
28 Sep 2019
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Related questions

True/False/Uncertain/Explain For each of the propositions given, state whether the proposition is true, false, or uncertain, and then support your answer with an explanation. Use 1-3 concise sentences with each one.

a. The first fundamental welfare theorem gives the conditions under which the private market can lead to a particularly efficient outcome.

b. A Pareto efficient allocation is one that yields a fair outcome.

c. A social welfare function summarizes society's preferences over citizens' utility.

5. A potential Pareto improvement is achieved when A. some members of society gain and others lose but the losses to the losers are small B. the winners from some change in policy could in principle compensate the losers from that change and still be better off C. a policy makes the average person in society better off D. none of the above

1. A potential Pareto improvement is achieved when A. some members of society gain and others lose but the losses to the losers are small B. the winners from some change in policy could in principle compensate the losers from that change and still be better off C. a policy makes the average person in society better off D. none of the above

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