Examlex
Discuss when whistle-blowing is ethical and when it is unethical.
Utility Function
An economic model that represents a consumer's preference ranking for various bundles of goods by assigning a utility value to each bundle.
Pareto Optimal Allocation
A distribution of resources in an economy where improving the situation of one person necessitates detriment to another.
Utility Function
A mathematical representation of how a consumer ranks different bundles of goods based on their level of satisfaction or utility.
Endowed
Refers to the initial allocation of goods, resources, or wealth an individual or entity possesses.
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