Question from Past Microeconomics Qualifying ExamEdit
Spring 2000- Section I, Question six, George Mason University
True, False, Uncertain. Determine whether or not each of the following statements are true or false. Explain your reasoning briefly in a paragraph or two. (The explanation is often more important than the answer given). Include a carefully labeled diagram or game matrix if it helps to clarify your answer.
A state of the world is Pareto efficient if and only if no Pareto optimal moves can be made.
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