Constructing the three conditions for economic efficiency in a 2x2x2 economy model. In this clip we remark on the pros and cons of our 2x2x2 model. We discuss what it can tell us about a real economy and what it cannot. We also talk about some policy implications of its use and misuse.
Questions about The General Equilibrium Theorem-part 6
Want more info about The General Equilibrium Theorem-part 6?
Get free advice from education experts and Noodle community members.