Examlex
Which of the following is a type of attribute?
Contract Curve
In economics, it refers to the locus of optimal points of allocation of resources between two parties under the constraints of their respective utility functions.
Pareto Optimal
A state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.
Initial Endowment
The initial quantity of goods, services, assets, or resources that an individual, institution, or economy possesses.
Pareto Optimal
A situation where resources are distributed in such a manner that it's not feasible to rearrange them to benefit someone without adversely affecting at least another individual or preference standard.
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