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Describe the use of Edgeworth box in welfare economy

      

Describe the use of Edgeworth box in welfare economy.

  

Answers


peter
Edgeworth box is frequently used in general equilibrium theory and it help in representing competitive equilibrium of normal system or even a range of outcomes to satisfy the economic efficiency.
Also edgeworth box shows the impossibility of efficiency outcome in the presence of bilateral monopoly.

PETERMAN answered the question on May 30, 2019 at 14:35


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