Pareto efficiency is achieved when
A)no one feels he or she has been overcharged for something just bought.
B)the greatest possible good for society has been achieved.
C)no individual can achieve greater utility without someone else losing utility.
D)everyone can be made better off without hurting anyone.
E)no one has more than anyone else.

Question

Quizplus · Accepted Answer

Pareto efficiency is achieved when no individual can achieve greater utility without someone else losing utility. It is also known as Pareto optimality, where a situation is considered Pareto efficient if there is no reallocation of resources that could make at least one person better off without making someone else worse off.

Pareto Efficiency Is Achieved When