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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.
what is the profit maximising quantity of L
I''m having trouble with this problem.....I must have missed the class that it was discussed in. I''m more confused with the interpreting the equations with all the Labor demand/La
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the difference between an lc3 and other types of businesses is that
What happens to the market for cchicken wings if the price of beer increases?
Draw the suitable graph for each situation and describe a real world situation in health care in which the market structure utilized in the question may exist. Demand: P=6,000-0
How equilibrium is achieved under monopoly
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If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?
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