Solution-Equity and social welfare

Equity and social welfare

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Reference no: EM133125603

Question 1 Equity and social welfare

Think of South African example where the cardinal or additive welfare function can be applied in terms of social welfare maximisation, that is: W = Ua + Ub + ......, and please briefly outline such examples.
Given that the utility function for a consumer a who is an altruist is given by: Ua = f[Ma, Ub(Mb). What is the interpretation of this utility function?

Question 2

Please Outline the causes of government failure in South Africa using relevant models
outline how income transfers or provision of free public goods can distort the work effort of individuals who are economically active and subject to income tax?

Question 3

Briefly discuss the five sources of finance for public expenditure in South Africa.?
Using a relevant graphical model to analyse the impact of elasticity of demand on the excess burden and the tax revenue collected by the government.?

Reference no: EM133125603

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Equity and social welfare

Reference no: EM133125603

Reference no: EM133125603

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