Chapter 23: Economic Efficiency
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9 Terms
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Optimality
________ or efficiency in this economic sense has nothing to do with the justice or desirability of the distribution.
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least reinterpret
The quest for efficiency has led to efforts to restructure, or at ________, the traditional criteria for making one person pay for harm caused to another.
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Pareto optimal state
The ________ might be a roughly equal distribution, or it might be a situation in which one player possesses all the goods.
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