Pareto Optimality Is the Condition in Which

question 65

Multiple Choice

Pareto optimality is the condition in which

• A) the distribution of income is equal.
• B) no change is possible that will make some members of society better off without making at least one other member of society worse off.
• C) firms are forced to internalize the effects of all externalities.
• D) it is possible to make one person better off without making someone else worse off.

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Definitions:

£ Per C$

£ Per C$ refers to the exchange rate determining how many British pounds (£) one can exchange for one Canadian dollar (C$), indicating the comparative value of the two currencies.

Weakens

To reduce the strength, effectiveness, or potency of something, often used in the context of arguments, materials, or forces.

X

A variable often used in mathematical equations and models to represent an unknown or variable quantity.

Importer

A person or business that buys goods from overseas to sell in their own country.