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Definition of Pareto efficient
1. Adjective. (game theory economics) Describing a situation in which the profit of one party cannot be increased without reducing the profit of another. ¹
¹ Source: wiktionary.com
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1. Adjective. (game theory economics) Describing a situation in which the profit of one party cannot be increased without reducing the profit of another. ¹
¹ Source: wiktionary.com