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Results tagged with welfare
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user 4251
4
votes
Leontief preferences and 2nd welfare theorem
Hint:
Second Welfare Theorem: Suppose that for every individual $i = 1,...,N$ the utility function $U^i(c_i)$ is continuous, locally non-satiated, and quasi-concave. …
- 6,678
1
vote
Is America getting to a point where there are many more people than jobs or money to go arou...
A few points to note.
1.) With more labor comes more goods that need to be produced. This can be in the form of goods, services, or capital needed to augment the production of labor. If we are talkin …
- 6,678