A Given Allocation in Edgeworth Box Is Pareto- Optimal If

question 29

Multiple Choice

A given allocation in Edgeworth box is Pareto- optimal if:

• A)it belongs to one of the sides.
• B)it belongs to one of the diagonals of the box.
• C)two indifference curves are tangent at that point.
• D)two indifference curves intersect in that point.

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Definitions:

Expected to Stay

An estimation of the duration or likelihood that an individual or item remains in a particular state or location.

M/D/1

M/D/1 is a queueing model designation indicating a system with a Poisson arrival process (M), deterministic service times (D), a single server (1), and exponential service times.

Constant Service Time

A situation where the time required to serve a customer or complete a process is the same each time, allowing for predictable scheduling and planning.

Units Arrive

The process of inventory or goods being delivered or reaching a specified location within a supply chain.