Discuss concept of pareto efficient income redistribution

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Question: Consider the case of maximizing an additive ilitarian SWF in a society consisting of two people. Assume that the total amount of income in this society is fixed. Show that under certain assumptions an equal distribution of income is optimal from the social point of view. Are these assumptions likely to hold in real life?

Discuss the concept of the Pareto efficient income redistribution and its practical significance.

Reference no: EM132207597

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