The economy consists of two consumers, Hubert and Eileen. 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 Hubert and Eileen eat, the happier they are.
One of their solutions is for Rajiv to take the entire pizza and devour it himself, leaving nothing for Yakov. An economist would say this solution is O neither efficient nor fair O efficient and fair O fair but not efficient O efficient but not fair