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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
284 Chapter 14
to make even a single person better-o by reallocating productive resources and consumer goods and
services, without making someone else worse o.
It is important to note that Pareto’s concept of social optimum does neither dene nor suggest
a measure of the magnitude of optimum social welfare. Pareto was concerned with the question whether
social welfare from a given economic situation can be or cannot be increased by changing the allocation
of resources. e test of increase in social welfare is that at least one person should be made better-o
without making anybody else worse-o.
Having introduced the welfar ...
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Publisher Resources

ISBN: 9788131797655