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What is the interpretation of utility function

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1. If you 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.

2. 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?

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Reference no: EM133124180

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