The economy consists of two consumers, Darnell and Beth. They have ordered a pizza and are deciding how to divide it between themselves. They have brainstormed a few solutions, and now they want to consult an economist to determine if their solutions are efficient and fair. Assume that a pizza consists of eight slices, and the more pizza Darnell and Beth eat, the happier they are.
One of their solutions is to have Beth eat four slices, Darnell eat three slices, and have them leave one slice in the box for no one to eat. An economist would say this solution is .