With respect to private goods, a Pareto optimal system is one in which ________ that make(s) some societal members better off without making others worse off have (has) been exhausted.
A) at least one trade
B) all possible trades
C) no trades
D) all profitable trades

Question

Quizplus · Accepted Answer

A Pareto optimal system is achieved when all possible trades that can make some members of society better off without making others worse off have been exhausted. This means no further trades can improve someone's situation without harming another's, indicating an efficient allocation of resources.

With Respect to Private Goods, a Pareto Optimal System Is