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A.Consider the following welfare function: W = sum_{i= 1 }^{n) iUi .What sort of welfare function is W ? What restrictions would you put on
A.Consider the following welfare function: W = sum_{i=1}^{n) iUi .What sort of welfare function is W ? What restrictions would you put on the i'S 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 welfa re function would you use? D.What is a Rawlsian welfare function meant to do?
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Physics
Authors: Alan Giambattista, Betty Richardson, Robert Richardson
2nd edition
77339681, 978-0077339685
