The Pareto optimality concept is _____

a. equivalent to the concept of economic efficiency
b. equivalent to Pareto superiority
c. equivalent to utilitarianism
d. equivalent to cost-benefit analysis

a

Economics

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In the short run, if a firm does not produce any output then it does not incur any costs

a. true b. false

Economics

Refer to the scenario above. What is the present value of the gift voucher for Jim?

A) 12 utils B) 22.5 utils C) 90 utils D) 180 utils

Economics