Pareto Efficiency Between Two Consumers Is Achieved

question 4

Multiple Choice

Pareto efficiency between two consumers is achieved:

• A)only when the individual marginal rates of substitution are equal to the marginal rate of transformation.
• B)only when the individual marginal rates of substitution are less than one, but not necessarily equal.
• C)only when the individual marginal rates of substitution are greater than one and equal.
• D)only when the individual marginal rates of substitution are equal.

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Definitions:

RFID

Radio-frequency identification, a technology using electromagnetic fields to automatically identify and track tags attached to objects.

Mobile Health App (mHealth)

A mobile application designed to offer health-related services and information via smartphones, tablets, or wearable devices.

Learning Management System (LMS)

A software application or web-based technology used to plan, implement, and assess a specific learning process, allowing for the management of educational courses and training programs.

BYOD

Bring Your Own Device (BYOD) is a policy allowing employees to use their personal devices for work purposes, potentially increasing productivity and satisfaction.