Social welfare function, Microeconomics

2 i) Explain what are the key assumptions by the welfarist approach.

ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it graphically.

iii) Represent graphically an utilitarian and a Rawlsian maximin social welfare function.

Using an Edgeworth box define and graphically represent the contract curve when all individuals have:

i) Convex indifference curves.

ii) Substitutes linear indifference curves.

iii) Complements kinked indifference curves.

Using an Edgeworth box represent:

i) A Pareto indifferent allocation.

ii) A weak Pareto improvement.

iii) A strong Pareto improvement.

iv) A Pareto optimal allocation.

Posted Date: 2/23/2013 2:02:15 AM | Location : United States







Related Discussions:- Social welfare function, Assignment Help, Ask Question on Social welfare function, Get Answer, Expert's Help, Social welfare function Discussions

Write discussion on Social welfare function
Your posts are moderated
Related Questions
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th

Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence

The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti

How has the Harberler''s theory of opportunity cost an improvment over the classical theory of trade?

i when should continue to produce in the short run

what is the south africas governments standpoint on international trade

what is demand forecasting and defines its techniques

yt =a+fyt-1 +ut, ut =et +?et-1, where et is independent white noise assume the process is stationary. Will OLS generally provide you with consis- tent point estimates of f? Can y

Sir i am the student of MSC Economcis frin Dustabce University (AIOU)from Islamabad (Pakistan)my name is Mohammed Bilal Farooq and required the answer of the following questions Q

The Money Multiplier is explained below: If you see carefully, the money multiplier is nothing but an inverse of a reserve ratio. Therefore, we can write MM = 1/rr, where rr is