Economy, asked by cparmar764, 1 year ago

What does pareto optimum imply

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Answered by kanak2704

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A state of affairs is Pareto-optimal (or Pareto-efficient) if and only if there is no alternative state that would make some people better off without making anyone worse off. ... The two so-called fundamental theorems of welfare economics contain the most-famous applications of the concept of Pareto-optimality

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