Millionaire Mode

Mathematical Economics

Question 1 of 15

What is the fundamental theorem of welfare economics?

  1. An allocation is Pareto efficient if and only if it is competitive.
  2. An allocation is Pareto efficient if and only if it is utility-maximizing.
  3. An allocation is Pareto efficient if and only if it is profit-maximizing.
  4. An allocation is Pareto efficient if and only if it is socially optimal.

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000