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No, a perfect market equilibrium is not always Pareto efficient. While a perfect market equilibrium maximizes overall economic welfare, it may not necessarily lead to a Pareto efficient allocation of resources where no one can be made better off without making someone else worse off.
What else can I help you with?
Is sustainable long-run equilibrium always reached when the AD and SAS curves intersect?
no
Because demand curve and supply curve always change market never attain equilibrium does this imply the concept of equilibrium is not useful?
Well it means that equilibrium is basically a dynamic process and it adjusts to the new situation where basic variables of the market has registered changes and the new endowment point becomes the need of the situation.
In what type of market must market price always be equal to marginal cost?
Under perfect competition, since there is no room in perfect competition to earn any abnormal profits
What is the relationship between Nash equilibrium and dominant strategy in game theory?
In game theory, Nash equilibrium is a situation where each player's strategy is optimal given the strategies of the other players. A dominant strategy is a strategy that is always the best choice for a player, regardless of the choices made by other players. In some cases, a dominant strategy can lead to a Nash equilibrium, but not all Nash equilibria involve dominant strategies.
Efficiency of price mechanism in allocating resources?
Why the price mechanism is not always efficient at delivering public goods, merit goods and de-merit goods
How do you derive mean deviation from mean for pareto distribution?
The total deviation from the mean for ANY distribution is always zero.
Why is a machine always less than 100 percent efficient?
Machines are never 100% efficient due to factors such as friction, heat loss, and mechanical limitations. Some amount of energy will always be lost during the transfer or transformation process, making it impossible for a machine to achieve perfect efficiency.
Does dynamic equilibrium always happen when a change occurs?
No, this is not necessarily.
How do chemists?
Chemists do it periodically - but in the end they always restore equilibrium.
How does the auction method satisfy the concepts of Pareto optimality?
The auction method, depending on the type of method used, satisfies Pareto optimality for the following reason: it is always best in an auction to bid your own valuation for a good. In game theory terms, this means that bidding your monetary valution of the good is always a weakly-dominanted strategy. This implies that the winner of the bid will, ignoring monetary constraints, will always be the person with the highest valuation of the good (since they bid the highest). Pareto optimality occurs when no one can be made better off without making someone worse off. When the item belongs to the person/group who values it most, social welfare is optimised (this is also called the Hobbes Theorem). Thus, the auction method, with basic rules, satisfies Pareto optimality by assigning the good to the person who values it most.
Are perfect squares always even?
Yes they are always even, other wise it would not be a perfect sqare.
Is science and technology not perfect?
science and technology is not always perfect
How do chemist behave?
Chemists do it periodically - but in the end they always restore equilibrium.
At equilibrium price the quantity is demanded always equal to the quantity supplied?
Yes, the equilibrium price equates the quantity supplied to the quantity demanded.
Why does James Gleick compare a book to a hammer?
Both are perfect tools we will always use.
Equilibrium is always associated with a desirable state of affairs true or false?
true
Its mandatory to use simple present after always?
No: He has always liked this author. = Present Perfect. I had always hoped to visit this town. = Past Perfect. She always knew that... = Past Tense. He will always remember you. = Future.
