General Equilibrium Theory | Welfare Economics

In this article we will discuss about:- 1. Interdependence in the Economy 2. Graphical Treatment of a Simple General Equilibrium Model 3. Static Properties of a General Equilibrium State 4. General Equilibrium of the Production Sector and the Consumption Sector (Under Perfect Competition) 5. Prices of Commodities and Factors 6. Factor Ownership and Income Distribution and Other Details. Interdependence in [...]