18. Suppose that instead the social welfare function put equal weight on each agent, SWF' = 3Uj + 3U k and there was 30 units total in the economy. True or false: In this case, the social welfare function would not care at all about equity and would rank all Pareto efcient points equally. (4 points, 2 points for T/F and 2 points for correct explanation.) Suppose that there are two agents, Joe and Kamala. The social welfare function is SWF = 5Uj 4-3de Each agent has utility function U i = ln(c) where c is the amount of some composite good consumed, and i indexes the agent, with 3' representing Joe and k: representing Kamala. We write allocations as (0,413,), that is, Joe's consumption and then Kamala's. 1Why does the social welfare function have different weights on the utility of the agents? It could be biased or sexist. It could be an attempt to rescale utility because Joe is just a. sadder person who requires more utils to get the same joy as Kamala. Or it could be a way of representing inequality, where perhaps Joe has lower income, so in the context of one particular policy, we care more about giving him some utility