Question 3. a.Briey explain why the KaldorHicks criterion is a more realistic approach for policy and project evauation than the Pareto criterion . b.Consider the
Question 3. a.Briey explain why the KaldorHicks criterion is a more realistic approach for policy and project evauation than the Pareto criterion . b.Consider the following welfare function: W = 2:1 (HUI. What sort of welfare function is W? What restrictions would you put on the era's for this to be a legitimate welfare function ? c.1f your goal is to eliminate target the welfare of the "average person", what sort of welfare function would you use
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