Which of the following is not the obstacles in the attainment of Pareto optimality ?
Consumer sovereignty is not a standard obstacle to a competitive Pareto-efficient outcome. Market power, externalities and public goods can prevent decentralized markets…
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Which of the following is not the obstacles in the attainment of Pareto optimality ?
Answer and explanation
Correct answer D
Consumer sovereignty is not a standard obstacle to a competitive Pareto-efficient outcome. Market power, externalities and public goods can prevent decentralized markets from reaching such an outcome.
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