Assertion: equilibrium | /r/HasProperty | efficient
Facets:
Source sentences:
text: Even if every equilibrium is efficient, it may not be that every efficient allocation of resources can be part of an equilibrium.
text: Even though every equilibrium is efficient, neither of the above two theorems say anything about the equilibrium existing in the first place.
text: Although generally (assuming convexity) an equilibrium will exist and will be efficient, the conditions under which it will be unique are much stronger.