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Pareto Efficiency: individuals know their own preferences and will do what suits them best. If everyone follows their own taste constrained as they are by
Pareto Efficiency: individuals know their own preferences and will do what suits them best. If everyone follows their own taste constrained as they are by the obstacles they face, society will soon reach a point where no one can be made better off without hurting someone else.
Can any economist analysis what do it mean ? I will absolutely rate your work.
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