Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The purpose of this exercise is to illustrate the potential conflict between personal liberty and the Pareto principle (first studied by Sen). Assume there is a copy of Lady Chatterley's Lover available to be read by two persons, A and B. There are three possible options: (a) A reads the book and B does not; (b) B reads the book and A does not; (c) neither reads the book. The preference ordering of A (the prude) is c A a A b and the preference ordering of B (the lascivious) is a B bB c. Hence c is the worst option for one and the best option for the other; while both prefer a to b. Define the personal liberty rule as allowing everyone to choose freely on personal matters (like the color of one's own hair) with society as a whole accepting the choice, no matter what others think.
a. Apply the personal liberty rule to the example to derive social preferences b c and c a.
b. Show that by the Pareto principle we must have a social preference cycle a b c a.
c. Suppose that liberalism is constrained by the requirement that the prude A decides to respect B's preferences such that A's preference for c over b is ignored. Similarly for B, only his preference for b over c is relevant but not his preference for a over c. What are the modified preference orderings of each person? Show that it leads to acyclic (transitive) social preference.
d. The second possibility to solve the paradox is to suppose that each is willing to respect the other's choice. Thus A respects B's preference for b over c and B respects A's preference for c over a. What are the modified preference orderings of each person? Show that it leads to acyclic social preference. What is then the best social outcome?
For an asset that fits into the MACRS "all property not assigned to another class" designation, what is the book value at the end of year 7 for the asset Assume the asset has a 10-year life of use and that the cost basis for the asset is $10,000.
If half the banks in the nation borrow additional reserves totaling $10 million at the Fed discount window, and at the same time the other half of the banks reduce their excess reserves by a total of $10 million, what is likely to happen to the mo..
Suppose there is a river on which are located several micro breweries, each of which discharges pollutants into the water.
Accounting for Economic Growth, ECON 311 Assignment 3, Calculate the growth rates of real GDP per worker and capital per worker for each time period. What is the average growth rate and standard deviation for both?
ECOM094 - a. Using the data contained in the dataset, construct the variables that you need in order to estimate eq. (1). b. Estimate eq. (1), report the results and comment on them. Are the results consistent with Taylor’s theory? Explain.
Assume that the production and distribution technology for all the new rms is the same as SIT press i.e., each firm bear a cost of $2 for each copy. Identify the equilibrium price and compute the equilibrium quantity
Given below are the cost schedules for a perfectly competitive firm. Average Average Variable Total Marginal Quantity Cost Cost Cost 1 $ 50 $ 90 $ 50 2 45 65 40 3 40 53 30 4 35 45 20 5 34 42 30 6 35 41 40 7 37 43 50 8 40 45 60
Bruno's Lunch Counter is expanding and expects operating cash flows of $26,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project.
The demand of product (X) is given Qx=14-3Px+4Py. Xsells for $5/unit and Y sells for $2.5/unit. 1 what is the cross price elasticity of demand between goods X & Y at these prices. 2 What is the own price elasticity of demand at these prices
if the cost basis for a macrs 5-year property is $100000 and the equipment is sold for $20000 after 5 years of beneficial use, what will be the depreciation charges the 1st and 5th years and the book value at the end of the 5th year
The reasearch topic can be about trade, commodities, demand or supply, elasticities, health issues, monetary issues etc. Also, can be about the markets in your town or country that you leave.
A firm makes and sells a computer for $1000. The variable costs to produce a computer, for the range of production of the firm, is $300 per unit. The total fixed costs per year to make the computer are $5.0 Million. How many computers must be made..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd