Evaluate the following policies in terms of their effect on "the greatest happiness the greatest number." (Think about market failures and failures of markets: how do the policies suggested correct problems with the functioning of the market and the distribution of income it produces?) Is there a tradeoff between economic efficiency and equality/happiness in each situation?
either two to three paragraphs or a analytical (non-verbal) model and a paragraph or two explaining it.
a) Free health care for all.
b) Replace the income tax with a tax on carbon.
c) Raise the tax on luxury goods to discourage conspicuous consumption