The distinction between efficiency and equality

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The distinction between efficiency and equality can be described as follows:

A) Efficiency refers to maximizing the number of trades among buyers and sellers; equality refers to maximizing the gains from trade among buyers and sellers.

B) Efficiency refers to minimizing the price paid by buyers; equality refers to maximizing the gains from trade among buyers and sellers.

C) Efficiency refers to maximizing the size of the pie; equality refers to producing a pie of a given size at the least possible cost.

D) Efficiency refers to maximizing the size of the pie; equality refers to distributing the pie fairly among members of society.

Reference no: EM131097497

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