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Economic efficiency
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Vilfredo Pareto
Welfare economics
Key terms: allocation allocations where alternative allocations any other anyone being made better off without compensation criterion desirable dominated economics efficiency feasible formally gain gamma goods implies j lagrangian lambda least one made worse off marginal markets math mathbb mathbf maximal monopolist optimum parameter pareto pareto efficient pareto frontier pareto improvement pareto optimal pareto optimum partial partial derivative preferred respect set of choices spo strictly sum vector weak welfare Search external links cited by footnotes on Wikipedia page Pareto efficiency: |
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