4annglass 4annglass
  • 20-09-2020
  • Social Studies
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What is accomplished by efficient allocations of the factors of production?

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VadymBabych
VadymBabych VadymBabych
  • 20-09-2020

Answer:

An efficient allocation of resources is: That combination of inputs, outputs and distribution of inputs, outputs such that any change in the economy can make someone better off (as measured by indifference curve map) only by making someone worse off (pareto efficiency).

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