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PARETO IMPROVEMENT: Based on the Pareto efficiency criterion, the notion that an action improves efficiency if it is possible for one person to benefit without anyone else being harmed. A Pareto improvement is possible if the economy has idle resources or market failures. With idle resources, more production is possible to help some without hurting others. With market failures, corrective actions can eliminate deadweight loss that can then be use for benefits economy-wide. A contrasting condition for attaining efficiency is the Kaldor-Hicks improvement.

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EQUILIBRIUM QUANTITY

The quantity that exists when a market is in equilibrium. Equilibrium quantity is simultaneously equal to both the quantity demanded and quantity supplied. In a market graph, the equilibrium quantity is found at the intersection of the demand curve and the supply curve. Equilibrium quantity is one of two equilibrium variables. The other is equilibrium price.

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Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for cardboard boxes.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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