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Celeste Trujillo
on Nov 05, 2024

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If some gain and some lose as the result of a change, and it can be demonstrated that the value of the gains exceeds the value of the losses, then the change is said to be

A) potentially efficient.
B) inefficient.
C) unequivocally Pareto optimal.
D) technically efficient.

Potentially Efficient

A situation where a system or process has the capability to achieve optimal productivity, but currently may not be doing so.

Value of Gains

The increase in worth or benefit that accrues to an entity, often measured in terms of profits, utility, or increased assets.

Value of Losses

The total monetary value associated with the loss of resources, assets, or functionalities within a specified period.

  • Evaluate the situations that could render a policy or action effectively efficient.
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JJ
Julian JacksonNov 05, 2024
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