Give an example of a social welfare function that leads to the egalitarian allocation that everyone should be given exactly the same bundle of goods. For simplicity, assume a four-person economy with two goods, where each person's utility is given by U; = X;Y; for i = 1, 2, 3, and 4. A social welfare function leading to everyone being given the same bundle of goods is A. W=U1 + U2 + U3 + U4. O B. W=U, +U2 + U3 + U4. c. W= max (U1,U2,U3,U4}. O D. W=U, xU2 × U3 ×U4. O E. W= U, + Uz + /U3 + /U4 ·
Give an example of a social welfare function that leads to the egalitarian allocation that everyone should be given exactly the same bundle of goods. For simplicity, assume a four-person economy with two goods, where each person's utility is given by U; = X;Y; for i = 1, 2, 3, and 4. A social welfare function leading to everyone being given the same bundle of goods is A. W=U1 + U2 + U3 + U4. O B. W=U, +U2 + U3 + U4. c. W= max (U1,U2,U3,U4}. O D. W=U, xU2 × U3 ×U4. O E. W= U, + Uz + /U3 + /U4 ·
Chapter1: Making Economics Decisions
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![Give an example of a social welfare function that leads to the egalitarian allocation that everyone should be given exactly the
same bundle of goods.
For simplicity, assume a four-person economy with two goods, where each person's utility is given by
U; = X;Y;
for i = 1, 2, 3, and 4.
A social welfare function leading to everyone being given the same bundle of goods is
A. W=U, + U2 + U3 + U4.
O B. W= U, + U2 + U3 + U4.
c. W= max(U1,U2,U3,U4}.
O D. W=U, XU2×U3 × U4.
O E. W= JU, + Uz + /U3 + /U4 •](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe78c358f-3f67-49cc-a20b-707597be3d77%2Fec75d211-af46-4132-a81e-7e12be7df164%2Ftjis62h_processed.png&w=3840&q=75)
Transcribed Image Text:Give an example of a social welfare function that leads to the egalitarian allocation that everyone should be given exactly the
same bundle of goods.
For simplicity, assume a four-person economy with two goods, where each person's utility is given by
U; = X;Y;
for i = 1, 2, 3, and 4.
A social welfare function leading to everyone being given the same bundle of goods is
A. W=U, + U2 + U3 + U4.
O B. W= U, + U2 + U3 + U4.
c. W= max(U1,U2,U3,U4}.
O D. W=U, XU2×U3 × U4.
O E. W= JU, + Uz + /U3 + /U4 •
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