Short Answers 1

Short Answers 1

Two paragraphs (minimum of 5 sentences per paragraph). Please cite everything.

Q1: Think about how Production Process may change over time given certain events. What is the relationship between that process and the Pareto Optimum?

Q2: Describe and explain two examples of Price Discrimination?

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Pareto efficiency
Question one
Pareto efficiency/optimal it allows improvement experience for a party without an expense of another party. For example, adding an employee in a production line resulting to higher outputs, and no adverse effect on the other production lines.

(318 words)