Consider the setting of Sect. 4.1 in the presence of a single good (i.e., (L=1) ). Show

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Consider the setting of Sect. 4.1 in the presence of a single good (i.e., \(L=1\) ). Show that condition (4.1) characterizing an ex-ante Pareto optimal allocation is equivalent to the Borch condition (4.4).

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