Which of the following statements is (are) TRUE?
I. The Rawlsian social welfare function computes society's welfare by calculating the difference in utility between the top 10% and bottom 10% of income earners.
II. Economists strictly use the Rawlsian social welfare function to evaluate market performance.
III. The Rawlsian utility function only considers the utility of the least well-off person.
A) II and III
B) I, II, and III
C) II
D) III
Correct Answer:
Verified
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