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Hi i trust you well can i get help with the following public economics questions Question 1 Equity and social welfare Think of South African
Hi i trust you well
can i get help with the following public economics questions
Question 1 Equity and social welfare
- Think of South African example where the cardinal or additive welfare function can be applied in terms of social welfare maximisation, that is: W = Ua + Ub + ......, and please briefly outline such examples.
- Given that the utility function for a consumer a who is an altruist is given by: Ua = f[Ma, Ub(Mb). What is the interpretation of this utility function?
Question 2
- Please Outline the causes of government failure in South Africa using relevant models
- outline how income transfers or provision of free public goods can distort the work effort of individuals who are economically active and subject to income tax?
Question 3
- Briefly discuss the five sources of finance for public expenditure in South Africa.?
- Using a relevant graphical model to analyse the impact of elasticity of demand on the excess burden and the tax revenue collected by the government.?
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