Edgeworth

Question

Edgeworth

BlackTom AI · Accepted Answer

Edgeworth is a figure associated with early utilitarian and marginalist concepts, most famously the use of indifference curves in representing consumer preferences. 
Option 1: 'published his famous work in the 1910's' — This is incorrect because Edgeworth’s foundational work on utility and indifference curves was developed in the late 19th century (notably the 1880s), not the 1910s, so the dating is inaccurate. 
Option 2: 'is noted for the indifference curve' — This statement aligns with the core contribution of Edgeworth, who popularized the use of indifference curves and the Edgeworth box to analyze exchange and preferences. It accurately identifies a hallmark of his work. 
Option 3: 'all of the above are true' — Since option 1 is false (due to the incorrect time frame) and option 4 is also not accurate (see below), this blanket claim cannot be true. 
Option 4: 'termed the phrase "Pareto optimum"' — The term 'Pareto optimum' (or Pareto efficiency) was introduced by Vilfredo Pareto, not Edgeworth. Therefore this option misattributes the phrase to Edgeworth. 
In summary, the second option correctly captures Edgeworth’s notable contribution, while the other statements either misdate his work or misattribute terminology to him.

INSY-7100-001 (Fall 2025) Multiobjective Optimization and Constraint Handling

Edgeworth

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