A situation is Pareto efficient if
A)there is no way to make everyone worse off without making someone better off.
B)aggregate profits are maximized.
C)there is no way to make someone better off without making someone else worse off.
D)there is some way to make everyone better off.
E)there is no way to make anyone better off.

Question

Quizplus · Accepted Answer

A situation is Pareto efficient if it is impossible to make any one individual better off without making at least one individual worse off. This concept is central to the idea of economic efficiency and welfare economics.

A Situation Is Pareto Efficient If