Suppose we consider the outcome in an exchange economy to be unfair, consumers of type A get a lot more X and Y than consumers of type B because of initial endowments. According to equilibrium-in-exchange theory, what should society do?

Suppose we consider the outcome in an exchange economy to be unfair, consumers of type A get a lot more X and Y than consumers of type B because of initial endowments. According to equilibrium-in-exchange theory, what should society do?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 7QP

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