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प्रश्न
State Pareto’s concept of economic welfare.
लघु उत्तर
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उत्तर
The Italian economist Vilfredo Pareto believes that the total economic welfare is the sum of individuals’ welfare. According to him, a social optimum is reached when, by any reallocation of inputs or outputs, it is not possible to make anyone better off without making at least one person worse off.
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