Examlex
If there is a decrease in both the supply and demand for a good, which of the following will definitely occur?
Efficient Mix
An allocation of resources that maximizes the total utility to society, where no individual can be made better off without making someone else worse off.
Potentially Efficient
A state in which resources could be utilized in a way that maximizes the net benefits to society or an economy, although not necessarily currently achieved.
Low-Income Families
These are households that earn significantly less than the average income for their society, often making it difficult to afford basic living expenses.
High-Income Families
Households that earn significantly above the average income for their geographical location or society as a whole.
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