Society uses various rules to decide which allocations are better than others. What rules does the generalized

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Society uses various rules to decide which allocations are better than others. What rules does the generalized utilitarian welfare function use? If the generalized utilitarian welfare function were to be applied to two groups in society-the rich and the poor-instead of to individuals, how might weights be assigned so as to achieve a result similar to the Rawlsian social welfare function?

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Microeconomics

ISBN: 9781292215624

8th Global Edition

Authors: Jeffrey Perloff

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