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Although all the points on the grand social ⎽⎽⎽⎽⎽⎽⎽⎽ frontier are Pareto efficient, only one point identifies where social welfare is maximized.

Belongs to subject Economics of welfare theory

Although all the points on the grand social ⎽⎽⎽⎽⎽⎽⎽⎽ frontier are Pareto efficient, only one point identifies where social welfare is maximized.