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Charles has two children Thomas and Harry He wants to divide $10000 between them He makes such decisions by maximizing a social welfare function

Charles has two children, Thomas and Harry. He wants to divide $10,000 between them. He makes such decisions by maximizing a social welfare function: U(UT, UH) = 4UT + 3UH, Where UT is Thomas s utility and UH is Harry s. Furthermore, UT = √T UH = √H Where T is the amount of money Thomas receives and H is the amount Harry receives. How will Charles divide the money?

Apr 09 2020 View more View Less

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