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July 6, 2015

Homework Help: Microeconomics - Normative Statements

Posted by Anonymous on Friday, December 11, 2009 at 9:54am.

Did I explain how normative statements are resolved and the differences between pareto and cost benefit analysis?

To resolve normative statements when comparing social states, pareto or cost benefit analysis takes place. Pareto criterion can make social states either all better off or make them all worse off (not based on equity). While the cost benefit analysis, there must be a trade-off. For example, if one state is better off, the other state is worse off.

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