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Important Questions for "Welfare Economics":

[1]

  1. Explain the Marshallian welfare economics.
  2. Explain Bergson-Samuelson Social Welfare Function.
  3. Explain Euler's Theorem of distribution.

[2]

  1. Differentiate between rent and profit.
  2. Explain the concept of Compensation Principle.
  3. Critically examine the statement: 'In equilibrium, Factors are paid rewards equal to the value of their marginal product.'

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