Efficiency exists when there is no way to make someone better off without making someone else worse off.

Question

Quizplus · Accepted Answer

Efficiency in economics is defined as a state where resources are allocated in a way that maximizes the production or output of goods and services without waste, and where no one can be made better off without making someone else worse off. This is known as the "no free lunch" principle. Therefore, option A is correct.

Efficiency Exists When There Is No Way to Make Someone