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V1 (a) Describe, using appropriate diagram(s) or otherwise, the difference(s) between a Pareto-efficient allocation of resources and a Pareto-inefficient allocation of resources. [30 marks]

(a) Describe, using appropriate diagram(s) or otherwise, the difference(s) between a Pareto-efficient allocation of resources and a Pareto-inefficient allocation of resources. [30 marks]

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