Reference Entry

fundamental theorems of welfare

Edited by Craig Calhoun

in Dictionary of the Social Sciences

Published in print January 2002 | ISBN: 9780195123715
Published online January 2002 | e-ISBN: 9780199891184
fundamental theorems of welfare

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These theorems prove two basic welfare consequences of competitive markets. The first fundamental theorem demonstrates that the market equilibrium of

Reference Entry.  154 words. 

Subjects: Social Sciences

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