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Hello, I need some help understanding these questions: Egalitarianism Suppose there are two persons, 1 and 2, who consume one good in the quantities .11
Hello, I need some help understanding these questions:
Egalitarianism Suppose there are two persons, 1 and 2, who consume one good in the quantities .11 and , respectively, whereby + = X = 80. The utility functions of I and 2 are, respectively: 27. Express in terms of x2 . 28. What is the optimal according to a social welfare function that is egalitarian in utilities? For THIS ONE PROBLEM, you can solve by trial and error. Hint: the solution is a member z of the set of integers Z, i.e., z e Z, taken to an integer power n, n e Z, that is, xz = zn. Further hint: you can restrict your attention to integer values for z and n between I and 4 inclusive. 29. What is the optimal according to the egalitarian social welfare function in utilities? 30. What does I 's utility equal with this allocation? 31. What is the optimal x, according to a social welfare function that is egalitarian in allocations?
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