Asked by MICHELLE
Which of the following are examples of Pareto-efficient changes? Explain your answers.
a. Cindy trades her laptop computer to Bob for his old car.
b. Competition is introduced into the electric industry, and electricity rates drop. A study shows that benefits to consumers are larger than the lost monopoly profits.
c. A high tax on wool sweaters deters buyers. The tax is repealed.
d. A federal government agency is reformed, and costs are cut 23 percent with no loss of service quality.
a. Cindy trades her laptop computer to Bob for his old car.
b. Competition is introduced into the electric industry, and electricity rates drop. A study shows that benefits to consumers are larger than the lost monopoly profits.
c. A high tax on wool sweaters deters buyers. The tax is repealed.
d. A federal government agency is reformed, and costs are cut 23 percent with no loss of service quality.
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