Give explanation step by step and take like Question 1 Consider 5 individuals who make a team on a group project with 5 tasks that themembers need to divide up evenly. The agents' preferences are as follows11 12 13 14 15t3 t5 t3 t3 t4t5 t₁ t4t₁t₁t1 t3 t2 t2 t2t₁ t2 t₁t3 t5t2 t4 t5 t4 t3(a) Suppose that individuals are ordered as follows: 5,3,4,2,1. What is the assignmentproduced with the serial dictatorship?(b) Suppose that for j = 1,...,5 individual ij owns task tj. If individuals are allowed to tradetasks, find an allocation that is in the core(c) Provide the order of agents for which the serial dictatorship produces the sameallocation as part b

(b) The core is the set of allocations that are stable under the following condition: no group of…

Answered: Question 1 Consider 5 individuals who…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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