Question: Please answer all the questions, only take it if you are sure , any references 1)Is Pareto efficient allocation fair? Is Pareto optimal fair? Is

Please answer all the questions, only take it if you are sure , any references

1)Is Pareto efficient allocation fair? Is Pareto optimal fair? Is Pareto superior allocation fair?

2.) Average total cost curve include the opportunity cost of the capital that a firm requires in a business

3) What is difference between Pareto efficient , Pareto optimal and Pareto superior ?

4) under the perfect competitive firm, it would produce the min point of the long run average cost curve? and why?\

5) for a monopolist competitive firm, it would produce the min point of the long run average cost curve? and why?

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