An outcome is considered efficient if
A) it is not possible to make someone better off without making anyone else worse off.
B) it is the best available choice for an individual.
C) it results in fair shares for everyone involved.
D) it is possible to make someone better off without making anyone else worse off.

Question

Quizplus · Accepted Answer

Efficiency, in the context of economics and the Pareto principle, refers to a situation where no individual can be made better off without making someone else worse off. This concept is central to the idea of Pareto efficiency or Pareto optimality.

An Outcome Is Considered Efficient If