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A.Consider the following welfare function: W = Pn i=1 iUi :What sort of welfare function is W ? What restrictions would you put on the
A.Consider the following welfare function: W = Pn i=1 iUi :What sort of welfare function is W ? What restrictions would you put on the is for this to be a legitimate welfare function ?
B. In part a what does Ui represent?
C.If your goal is to maximize aggregate national welfare, what sort of welfare function would you use? d.What is a Rawlsian welfare function meant to do?
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