Examlex
In the United States in 2012, the number of new, diagnosed diabetes cases was highest for people in the age range of ________, and the rate of new diabetes cases per 1,000 people was highest for people in the age range of ________.
Pareto Optimum
An economic state where resources are allocated in a manner that precludes the possibility of bettering one's situation without causing harm to another.
Desert Island
An uninhabited or deserted island, often depicted in literature and movies as a remote, isolated place.
Competitive Equilibrium
A market state where supply equals demand, and no economic agents have the incentive to change their behavior.
Utility Function
A mathematical representation of how a consumer ranks different bundles of goods according to the level of satisfaction or happiness they provide.
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