Week # 12-13: Pareto optimality & General equilibrium

Visit to local(Sargodha) industry to discuss cost and revenue structure. Assumptions of the 2 X 2 X 2 models. Edge Worth Box diagram, Pareto Optimality; Equilibrium conditions. Concept of Contract Curve , Static Properties of A General Equilibrium Model.  General Equilibrium and the Allocation of Resources.

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chapter-13-general-equilibrium-and-welfare.docx (0.02 MB )

intermediate-microeconomics-a-modern-approach-7th-ed-h-r-varian-w-w-norton-company-2005-0393927024.pdf (14.72 MB )