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Consider a country with only two residents, Jack and Jill. Both have the same utility function: U Y , where U is utility and Y
Consider a country with only two residents, Jack and Jill. Both have the same utility function: U Y , where U is utility and Y is income. The country is considering two policies that would result in the following incomes for its two residents. POLICY 1 POLICY 2 Jack $100 $81 Jill $4 $16 a) Which policy would be preferred under the Kaldor-Hicks criterion
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