Which of the following refers to the set of outcomes corresponding to the entire set of agreements that leaves no portion of the total amount of resources unallocated?
A) Pareto-efficient frontier
B) the Nash solution
C) the uniqueness axiom
D) the symmetric bargaining principle

Question

Quizplus · Accepted Answer

The Pareto-efficient frontier refers to the set of outcomes that allocate resources in a way that maximizes the welfare of all parties involved, such that no further reallocation can be made without making at least one party worse off. This means that all resources are allocated in the most efficient way, leaving no portion unallocated. B refers to a bargaining solution concept, C is a property of preference relations, and D is a bargaining principle involving symmetry between the bargaining parties, none of which directly relate to the entire set of agreements that leave no portion of resources unallocated.

Which of the Following Refers to the Set of Outcomes