In this video, I explain the idea of Pareto efficiency. I define the idea, and I illustrate it with a simple numerical example. In the last section of the video, I relate the discussion of Pareto efficiency to the Edgeworth Box. For a list of videos and links to these videos (organized by topic), check out the Intromediate Microeconomics video web page: blog.thisyoungeconomist.com This video goes along with my textbook, "Intromediate Microeconomics" and it draws partially from some of the material in the supplement. Both the main textbook and its supplement are available for purchase at www.lulu.com
Keywords: Pareto efficiency, economics tutorials, economics, microeconomics, intromediate microeconomics, consumer theory, endowment economies, general equilibrium, lecture
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