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Problem: A policy maker is considering several policy options that lead to different utility levels of different individuals
a) Which Policy is would be optimal according to the Utilitarian criterion?
b) Which Policy would be optimal according to the Rawlsian social welfare function?
c) Are any of the policies pareto improvements relative to another Policy? If so which?
d) What is the Set of Pareto Optimal policies?
Question 1 Explain the process of problem identification with an example 2 Interview method involves a dialogue among the Interviewee and the Interviewer. Describe the inter
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b. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y pape
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