Reference Entry

Fundamental Theorems of Welfare Economics

John Black, Nigar Hashimzade and Gareth Myles

in A Dictionary of Economics

Fifth edition

Published in print January 2017 | ISBN: 9780198759430
Published online January 2017 | e-ISBN: 9780191819940
Fundamental Theorems of Welfare Economics

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The two theorems that describe the efficiency properties of a competitive equilibrium. The First Fundamental Theorem of Welfare Economics states

Reference Entry.  73 words. 

Subjects: Economics

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