Consider an economy with two people, person 1 and person 2. This economy has the following...
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Consider an economy with two people, person 1 and person 2. This economy has the following utility possibility frontier: UU1=3-1.5UU2, where UU120,UU220. 6. Suppose that this society has the utilitarian social welfare function in which each person is treated equally. Then the outcome most preferred in this society is , a) UU1=1.5, UU2=1 b) UU1=3, UU23D0 c) UU1=0, UU2=D2 d) UU1=65, UU2=65 Consider an economy with two people, person 1 and person 2. This economy has the following utility possibility frontier: UU1=3-1.5UU2, where UU120,UU220. 6. Suppose that this society has the utilitarian social welfare function in which each person is treated equally. Then the outcome most preferred in this society is , a) UU1=1.5, UU2=1 b) UU1=3, UU23D0 c) UU1=0, UU2=D2 d) UU1=65, UU2=65
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