Business, 07.11.2019 06:31 Questions138
Suppose there are only two people, simon and charity, who must split a fixed income of $100. for simon, the marginal utility of income is 400 2ssmui ï€ whereas for charity the marginal utility of income is 400 6ccmui ï€ where si and ci are the amounts of income for simon and charity, respectively. a. [5 points] what is the optimal distribution of income if the social welfare function is additive? b. [5 points] what is the optimal distribution if society values only the utility of charity? what if the reverse is true? comment on your answers. c. [5 points] finally, comment on how your answers change if the marginal utility of income for both simon and charity is constant: 400scmu mu.
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Managers in a firm hired to improve the firm's profitability and ultimately the shareholders' value will add to the overall costs if they pursue their own self-interests. what does this best illustrate? a. diseconomies of scale b. principal-agent problem c. experience-curveeffects d. information asymmetries
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Suppose there are only two people, simon and charity, who must split a fixed income of $100. for sim...
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