Question

rsonal device or shared on any website with no exceptions. Do not use the inte work Any suspicion of violations of the Code of Academic Conduct will be referred to the Office of Student Support and Audicials > SA 23 6 Clearly type out your answer to parts (A). (B) and (C). Acommunity consists of 5 people. Their elected representative wants to maximize a social welfare function that rewards good students. (A) Given an example of a welfare function that would accomplish the representative's goal (B) Would it result in equality? (C) What is a way to Incentivize studying and create more equality? HTML BIVAA. IE * 3.x X SEE T 11. 12pt

Answer 1

A )In welfare economics a social welfare function is a function which gives rank to social states. It gives rank as less desirable, more desirable and indifferent.The goal is to maximize social welfare and move the economy towards pareto efficient state..Eg is welfare across different sets of preferences of the individual person.

B)The social welfare function provides guidance to the government for the optimal distribution of income.It discourages inequality.Equality is the term used for equal distribution of income.However a comparison of equality ranks for the states of US was made to find the sensitivity of the equality index to the welfare function specifications .It was found that the equalty index was insensitive to the specification of welfare function.

C)The structure of education system affects equity.Selecting students on the basis of achievement creates social differences.So from equity point of view school choice requires careful management.Basic schooling should be provided and the risk of drop out should be eliminated.It is necessary to make upper secondary education attractive and not just academic oriented.At risk students should be given career guidance and counselling and the curriculum should be flexible.Good quality vocational training will also incentivize .