Read the following statements about the Pareto efficiency of the different allocations in the payoff matrix in the figure and select the correct two.
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Question

Read the following statements about the Pareto efficiency of the different allocations in the payoff matrix in the figure and select the correct two.

Accepted Answer

Pareto efficient allocations may be fair and may be not.

Accepted Answer

There are three Pareto efficient allocations for the climate change agreement game.

Answer

The Nash equilibrium is Pareto efficient

Answer

There is no Pareto efficient allocation.

Answer

There is only one Pareto efficient allocation for the climate change agreement game.

Answer

(7,1) pareto-dominates (2,2)

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