Question: State the equilibrium conditions for Pareto efficiency using mathematical equations. Outline the three conditions for a top-level general equilibrium with the aid of diagrams and

State the equilibrium conditions for Pareto efficiency using mathematical equations. Outline the three conditions for a top-level general equilibrium with the aid of diagrams and explain why it represents a Pareto-optimal allocation of resources. Use a diagram to illustrate simultaneous equilibrium. How would the initial distribution of income impact on the equilibrium? Include references (Harvard style) in

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