Show that the allocation which solves the first-order condition from Eq. (3.7) for a social optimum satisfies

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Show that the allocation which solves the first-order condition from Eq. (3.7) for a social optimum satisfies the second-order conditions.

Equation 3.7

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A Course In Environmental Economics

ISBN: 9781316866818

1st Edition

Authors: Daniel J Phaneuf, Till Requate

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Question Posted: Feb 11, 2024 07:21 AM

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Show that the allocation which solves the first-order condition from Eq. (3.7) for a social optimum satisfies

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-C(e) = D'(E) i=1,.... (3.7)

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SOLUTION Okay to show that the allocation that satisfies the firstorder condit...View the full answer

A Course In Environmental Economics

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