Consider the following information on cola sales by number of cases for a typical university residence floor:
Cola sales and temperature are
Definitions:
Equitable Distribution
The fair and just allocation or distribution of resources among members of a society.
Pareto Optimal
A state of allocation of resources from which it is impossible to reallocate to make any individual or preference criterion better off without making at least one individual or preference criterion worse off.
Potentially Efficient
A situation or system that has the capacity to achieve efficiency but has not yet achieved it.
Unequivocally Pareto Optimal
A situation where an allocation cannot be adjusted to make one individual better off without making someone else worse off, signifying an optimal allocation of resources.
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