--%>
Assignment Help - homework help

social welfare function

What do you mean by a social welfare function? If you assume that such a function exists, what properties of social optima would be considered by you? Discuss such properties.

   Related Questions in Microeconomics

  • Q : Sole proprietorships and partnerships

    The Sole proprietorships and partnerships account for the ________ percent of all U.S. firms and a _________ percent of sales by the U.S. firms: (1) Large; small. (2) Large; large. (3) Small; small. (4) Small; large. Find out the r

    		•
  • Q : Quintile distribution of income Give

    Give the answer of following question. In the quintile distribution of income, the term "quintile" represents: A) 5 percent of the income receivers. B) 10 percent of the income receivers. C) 20 percent of the income receivers. D) 25 percent of the income receivers.

    		•
  • Q : Negatively-related measure of the

    The proportion you would lose when you bought an asset and instantly sold it is a negatively-related measure of the assets: (1) net present value. (2) liquidity. (3) par value. (4) abandonment cost. (5) transactions ratio. Hey frie

    		•
  • Q : Incurs total costs by profit

    This profit-maximizing brickyard as in illustrated figure incurs total costs of approximately: (i) $1200 daily. (ii) $1300 daily. (iii) $1400 daily. (iv) $1530 daily (v) $1600 daily.

    Q : Opinion about kinked demand curve model

    George Stigler concluded which the kinked demand curve model is incorrect to the extent that this depends on: (w) marginal cost pricing. (x) pure competition. (y) interdependent decision making.  (z) sticky prices.

  • Q : Profit Maximization-Labor Markets

    When after hiring the very last worker, the organization’s profit is similar as it was prior to the last worker was hired, the firm must: (1) Hire more workers to raise the profit. (2) Layoff several workers to raise gain. (3) Not hire any more workers. (4) Shut

    		•
  • Q : Demand when price of good or resource

    When the price of a good or resource drops, the demands for: (i) That good or resource raise. (ii) Complementary goods or resources reduce. (iii) Substitute goods or resources reduce. (iv) Luxury goods and inferior resources drop.

  • Q : Maximizing utility from consumption of

    Given that a MU of French fries of 35 utils and a MU for the serving of potato chips at 25 utils, when their respective prices are $1.50 and $.80, a person who wishes to maximize the utility from the consumption of both of such goods would consume: (1) The similar amo

    		•
  • Q : Demands and supplies of most goods

    Since longer time intervals are considered, then demands and supplies of most of the goods become: (i) Increasingly independent. (ii) Less subject to the adjustments through buyers and sellers. (iii) Flatter (that is, quantities adjust more fully to p

    		•
  • Q : Price elasticity of demand when prices

    When the prices of generic yachts rise by $500,000 to $600,000, causing yearly sales to drop from 30,000 to 10,000, in that case the price elasticity of demand for such yachts equals: (w) 11.00. (x) 2.75. (y) 5.50. (z) 13.75.