What type of social welfare function does the economy have

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Reference no: EM132196874

Question: In an economy with 2 people, L and P, has the social welfare function of WUUp and the utility possibilities frontier of UPF U2Up.

a. What type of social welfare function does the economy have?

b. At what utility levels of L and P, does this economy achieves social optimum?

Reference no: EM132196874

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