Answer to Question #312088 in Microeconomics for Rabi

Question

Difference between pareto efficiency and pareto Improvement with the help of Edgeworth box diagram

Answer 1

Answer.

The diffrence between the two is that pareto improvement refers to when individual person becomes better off without another person becoming worse in any way while with pareto efficiency it is hard and difficult to make a party to be better without making another person feel worse.