Pareto efficiency
Related Words
pareto optimalityeconomicsutilityallocationresourcewelfareequilibriumoptimizationtradeoffsurplusmarketcompetitiondistributionproductionconsumptionefficiencyoptimalitybenefitcostincentiveexchangetradewealthincomeequityfairnesssocial welfareopportunity costmarginal utilitysubstitutionindifference curvegame theorynash equilibriumcooperationconflictscarcitydemandsupplypricevalueutility functionoptimalsuboptimaldeadweight lossmarket failuremonopolyoligopolyperfect competitiongamestrategypayofftrade off