If a Social Welfare Function Is an Increasing Function of Each

question 9

True/False

If a social welfare function is an increasing function of each person's utility, then every allocation that maximizes this social welfare function must be a Pareto optimum.

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Definitions:

Shale

A fine-grained sedimentary rock formed from clay and other minerals, often used in the production of oil and natural gas through fracking.

Conglomerate

A sedimentary rock made up of rounded pebbles, cobbles, and boulders cemented together.

Unconformity

A surface of contact between two groups of unconformable strata, indicating a period of erosion or non-deposition.

Monocline

A geological fold where all strata are inclined in the same direction, resembling a step-like structure in the landscape.