What is required for the economy to be pareto efficient, Microeconomics

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What is required for the economy to be pareto efficient

Problem

What is meant by Pareto efficiency? What is required for the economy to be Pareto efficient? If the conditions of the basic competitive model are satisfied, is the economy Pareto efficient?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is required for the economy to be pareto efficient

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