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Figure: Payoff Matrix for Ajinomoto and ADM
-(Figure: Payoff Matrix for Ajinomoto and ADM) Use Figure: Payoff Matrix for Ajinomoto and ADM.The optimal combination for maximum combined profit occurs when ADM produces _____ million pounds and Ajinomoto produces _____ million pounds.
Numeraire
A unit of account or standard measure in economics used to compare the value of goods or services.
Pareto Optimal
Another term for Pareto Efficient; describes a situation where no one's condition can be improved without worsening someone else's condition.
Initial Endowment
The initial quantity of goods, services, and assets that an individual, organization, or economy possesses.
Pareto Optimal
An allocation of resources from which it is impossible to reallocate without making at least one individual worse off.
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