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Pareto inefficient - PowerPoint PPT Presentation

Pareto efficiency

Pareto efficiency. Is that outcome good? Pareto efficiency Is only one part. Pareto improvement is a comparative term. One outcome (A) is a Pareto improvement over another (B) if at least one person prefers A to B and nobody prefers B to A.

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748 views • 18 slides

Economic Modeling

The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions --- John Maynard Keynes. Economic Modeling.

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303 views • 17 slides

Economic Modeling

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180 views • 17 slides

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Pareto inefficient - PowerPoint PPT Presentation

Pareto efficiency

Economic Modeling

Economic Modeling