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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.
Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w
What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
how does pp curve solve the problem of how to produce, what yo produce, and when to produce?
I need help with a question that has been posted on here already.
what are the values of real money supply and the current price level
VIVIDLY EXPLAIN WHAT THE RAWLSIAN SOCIAL WELFARE ENTAILS
Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
What is the difference between change in quantity demanded and change in demand
what is the mass of a body when it is taken to the moon
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