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1. The theory challenges the assumption of orthodox welfare economics that the existence of market failure is sufficient reason for governmental intervention.

2. Every novice student learns the elementary propositions of welfare economics.

3. Summary 1 Welfare economics deals with normative issues or value judgements.

4. In Chapter 8, where welfare economics was introduced, we stated a very important condition for an increase in economic welfare.

5. In welfare economics we are taught that to internalize externalities by appropriate contracts is socially desirable.

6. Two themes recur throughout our discussion of welfare economics in Part 3.

7. Two themes recur throughout our discussion of welfare economics.

8. These methods are based on certain theories of welfare economics or ethic.

8. Sentencedict.com is a online sentence dictionary, on which you can find good sentences for a large number of words.

9. Welfare economics is a of western economics important and academic branch.

10. Welfare economics is the study of the desirability of alternative economic states.

11. Formalizing Adam Smith's remarkable insight of the Invisible Hand, this result is the foundation of modern welfare economics.

12. Communal product is the important research target of western welfare economics.

13. Whether the market allocation is desirable is determined by welfare economics.

14. Its are main academic contribution expression is mixed in welfare economics microcosmic terrain of economics.

15. The normative sub - branch of microeconomics is known as welfare economics.