Which of the Ten Principles of Economics does welfareeconomics explain more full

Question

Which of the Ten Principles of Economics does welfareeconomics explain more fully a. The cost of something is what you give up to get it. b. Markets are usually a good way to organize economicactivity c.Trade can make everyone better off. d. A country's standard of living depends on its ability toproduce good and services. Which of the Ten Principles of Economics does welfareeconomics explain more fully a. The cost of something is what you give up to get it. b. Markets are usually a good way to organize economicactivity c.Trade can make everyone better off. d. A country's standard of living depends on its ability toproduce good and services.

Explanation / Answer

Welfare economics is abranch of economics that uses microeconomic techniques tosimultaneously determine allocative efficiency within an economyand the income distribution associated with it b. Markets are usually a good way to organize economicactivity

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