In a competitive market equilibrium, the marginal rate of substitution between 2 goods will be the same for all consumers and

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    the prices of the two goods will be such that the quantity demanded will equal the quantity supplied in all markets.
     the MRS will equal the ratio of the prices of the two goods.
     goods are allocated in such a way that we cannot make one person better off without making another worse off.
     All of the above.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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All of the above.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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