Select one or more: a. A Pareto efficient outcome is where you cannot make anyone better off without someone else ending up worse off. b. All are happy with their share of income in a Pareto eﬃcient outcome. c. There is only ever one Pareto eﬃcient outcome. d. If two people have £100 to split, any split in which all the money is used up is Pareto-Efficient, even if one person gets none.

Select one or more: a. A Pareto efficient outcome is where you cannot make anyone better off without someone else ending up worse off. b. All are happy with their share of income in a Pareto eﬃcient outcome. c. There is only ever one Pareto eﬃcient outcome. d. If two people have £100 to split, any split in which all the money is used up is Pareto-Efficient, even if one person gets none.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter2: Scarcity And Opportunity Costs

Section: Chapter Questions

Problem 6E

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