Welfare economics deals with the formulation of criteria on the basis of which a comparison may be made among economic alternatives open to the society in order that the "best" one may be chosen. Many students of welfare economics in their attempt to define the optimum range of welfare possibilities open to society, from which a choice should be made, were led to the study of the optimum conditions of social welfare, and the conditions for the optimum allocation of resources. A major controversial issue developed on the relation of price to marginal cost as a condition to the optimum allocation of resources. The discussion focuses on this issue.

  • Corporate Authors:

    Canadian Transport Commission

    Systems Analysis Branch, 275 Slater Street
    Ottawa, ONo K1A 0N9,   Canada 
  • Authors:
    • HARITOS, Z
  • Publication Date: 1971-12

Media Info

  • Pagination: 12 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00099857
  • Record Type: Publication
  • Source Agency: Canadian Transport Commission
  • Report/Paper Numbers: No. 26
  • Files: TRIS
  • Created Date: Oct 18 1975 12:00AM