Which concept refers to a state where no individual actor can be made better off without making at least one individual worse off?

ANash Equilibrium

BKaldor-Hicks Efficiency

CEdgeworth Box Balance

DPareto Efficiency (Pareto Optimality)

Explanation

Pareto efficiency represents an optimal resource allocation where no one can gain without someone else losing.

Submitted by: mcqstutor Team More Economics MCQs →