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Important Questions for "Welfare Economics":

[1]

  1. Explain the Marshallian welfare economics.
  2. Explain Bergson-Samuelson Social Welfare Function.
  3. Discuss the importance of Linear Programming.

[2]

  1. Explain the concept of Compensation Principle.
  2. Distinguish between Gross Interest and Net Interest.
  3. Discuss the linear programming approach to the theory of production. Illustrate your answer with the help of a relevant diagram.

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