Read the following statements about private property and select the one that is not true.

Suppose, in Game 1, Jack places two $5 bills into two envelopes (one in each). But just before he gives the envelope to each recipient, he is told that actually each dollar given to one of the recipients (call this recipient Person A) will become $2 and each dollar given to the other recipient (call this recipient Person B) remains the same (i.e. will not be doubled).

Do you agree with the following statement?

“It would be Pareto improvement if Jack gives both envelopes (i.e. $10 in total) to Person A and leave nothing to Person B.“

Explanation:

The original statement in this question was: 

So we changed it to the current statement:

Given that we revised the question after some students have attempted this question, we give both answers 100%.

Do

you agree with the following statement and why?

“Each

recipient receives less in Game 2 than Game 1 because they have less power in

Game 2 when there are more recipients.”

Suppose, in Game 1, Jack places two $5 bills into two envelopes (one in each). But just before he gives the envelope to each recipient, he is told that actually each dollar given to one of the recipients (call this recipient Person A) will become $2 and each dollar given to the other recipient (call this recipient Person B) remains the same (i.e. will not be doubled).

Do you agree with the following statement?

“It would be Pareto improvement if Jack gives both envelopes (i.e. $10 in total) to Person A and leave nothing to Person B“

"Bruno has one Product A and two Products B and Angela has Product A."

Please write down if it is “Pareto efficient” or “Not Pareto efficient”

"Bruno has one Product B and Angela has one Products B and two Products A."

Please write

down if it is “Pareto efficient” or “Not Pareto efficient”

"Bruno

has two Products A and Angela has two Products B."

Write down if it is “Pareto efficient” or “Not Pareto efficient.”