Pareto efficiency is defined as

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    an allocation of goods that maximizes wealth for all.
     an output level of goods that has been produced at the lowest cost possible.
     an allocation of goods where, once achieved, no one can be made better off without making someone else worse off.
     an allocation of goods where each person has received the most equitable portion possible.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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an allocation of goods where, once achieved, no one can be made better off without making someone else worse off.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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