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Social Welfare Functions Can Be Formed in Many Ways

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Social welfare functions can be formed in many ways.They can be additive,meaning that the all utilities curves are added together.They incorporate the idea of least-best,meaning that the utility of the person with the least is maximized.If you were a central planner for an economy,what type of social welfare function would you create?


Definitions:

Anticholinergic Properties

Characteristics of certain medications that block the action of the neurotransmitter acetylcholine, affecting various bodily functions.

Parasympathetic Nervous System

A division of the autonomic nervous system responsible for relaxation and conserving energy by slowing the heart rate and increasing intestinal and gland activity.

Gamma-Aminobutyric Acid (GABA)

An inhibitory neurotransmitter in the brain that helps regulate nerve cell activity and is involved in reducing excitability.

Sensory Perceptual Alterations

Changes or disturbances in the way an individual perceives sensory inputs, which can be a symptom of various neurological or psychological conditions.

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