Social Studies, 30.10.2019 22:31 bhopainting
Are all efficient outcomes also equitable? explain. a. no, the only efficient outcome that is equitable is the one that results in an equal distribution of goods across society. b. there is really no definitive answer to this question since issues surrounding efficiency and equity are the domain of normative economics, where subjective value judgments are made. c. yes, if an outcome is efficient, then by definition, it maximizes social surplus and consequently must be equitable. d. no, only those efficient outcomes that produce a rich-to-poor income ratio less than 5.0 are equitable.
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