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problem1. Evaluate the following statement:

“The First Theorem of Welfare Economics describes that as long as producers and consumers act as perfect competitors and there are no other market failures, a Pareto efficient allocation of the resources emerges.

problem2. describe the conditions essential to accomplish Pareto Efficiency.

problem3. What is public good? describe how the free rider problem might be a problem in provision of a public good.

problem4. What do you mean by ‘‘market failure’’? Describe the various kinds of market failures that might take place in an economy.

problem5. How will you determine a good tax system?

problem6. Describe the different components in budgetary process of Mauritian Government. How will you justify present budget deficit?

Public Economics, Economics

  • Category:- Public Economics
  • Reference No.:- M95472

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