Question

which of the following social welfare functions can characterize the case where social welfare equals TO...

which of the following social welfare functions can characterize the case where social welfare equals TO THE POOREST INDIVIDUALS UTILITY?

Utalitarian

egalitarian

rawlsian

all of the above

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Answer #1

A social welfare function shows the level of welfare in the economy which is expressed as a function of economic variables.

Under Utilitarian social welfare function, welfare is maximized when one person's good is sacrificed to serve the greater good of a group of people.

Egalitarian social welfare function is the function which states that allocation of utilities should be done in such a way that all individuals' utilities will become equal.

Rawlsian social welfare function uses the maximum criterion to measure welfare. This means that welfare of a society will be measured by the utility or well-being of worst-off or poorest individuals.

So, the correct option is RAWLSIAN social welfare function.

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