Fundamental theorems of welfare economics

There are two fundamental theorems of welfare economics.

The First Theorem states that a market will tend toward a competitive equilibrium that is weakly pareto optimal when the market maintains the following three attributes:

1. complete markets - No transaction costs and because of this each actor also has perfect information, and

单词	First theorem of welfare economics
释义	First theorem of welfare economics 英语百科 Fundamental theorems of welfare economics There are two fundamental theorems of welfare economics. The First Theorem states that a market will tend toward a competitive equilibrium that is weakly pareto optimal when the market maintains the following three attributes: 1. complete markets - No transaction costs and because of this each actor also has perfect information, and
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First theorem of welfare economics

Fundamental theorems of welfare economics