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____________________ contains high concentrations of dissolved calcium and magnesium ions which can form precipitates on pipes, water heaters, and dishes.
Initial Endowment
The initial quantity of goods, services, and assets that an individual, organization, or economy possesses.
Pareto Optimal
An allocation of resources from which it is impossible to reallocate without making at least one individual worse off.
Utility Function
A mathematical representation that captures the level of satisfaction or happiness that consumers derive from consuming goods and services.
Initial Endowment
The original distribution of resources, wealth, or abilities that individuals or groups possess in an economic model.
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