Economics · Microeconomics
What does Pareto optimal allocation refer to in welfare economics?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A situation where market supply exceeds total demand
- 2An allocation where all economic resources are owned and controlled by a single entity
- 3A scenario where every individual in society receives an equal share of resources
- 4An allocation where it is impossible to make one individual better off without making another worse off✓
Correct answer
An allocation where it is impossible to make one individual better off without making another worse off
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