Question

Which is not the assumption of pareto optimality among the following?
a) All the factors of production are used in the production of every commodity

b) Every consumer wishes to maximize his level of satisfaction

c) The concept of utility is cardinal and cardinal utility function of every consumer is given

d) Conditions of perfect competition exist making all the factors of production perfectly mobile.​

Answer 1

Answer:

b) Every consumer wishes to maximize his level of satisfaction

Answer 2

Answer:

d is the right option

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