Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 22, Problem 7PA
Subpart (a):
To determine
Applying Borda count and Arrow’s impossibility theorem.
Subpart (b):
To determine
Applying Borda count and Arrow’s impossibility theorem.
Subpart (c):
To determine
Applying Borda count and Arrow’s impossibility theorem.
Subpart (d):
To determine
Applying Borda count and Arrow’s impossibility theorem.
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Kimberly's sister would like to start a business with her brother selling simple T-shirts that are green in color at all stores in the area.
Her brother disagrees and thinks that the shirts should have a special logo on them and should be sold only at specific stores. As the
deciding vote, what should Kimberly choose and why?
Choose one:
A selling green T-shirts because prices will be higher as the number of stores increases
B. selling green T-shirts because prices will be higher as the shirt becomes more commonplace
OC. selling shirts with a special logo because prices will be higher as the shirts becomes more unique
OD. selling shirts with a special logo because prices will be higher as the shirts are sold in fewer stores
OE. both C and D
Let's call a committee of three people a "consumer." (Groups of people often
act together as "consumers.") Our committee makes decisions using majority
voting. When the committee members compare two alternatives, x and y,
they simply take a vote, and the winner is said to be "preferred" by the
committee to the loser. Suppose that the preferences of the individuals are as
follows: Person 1 likes x best, y second best, and z third best. We write this in
the following way: Person 1: x, y, z. Assume the preferences of the other two
people are: Person 2: y, z, x; and Person 3 : z, x, y. Show that in this
example the committee preferences produced by majority voting violate
transitivity. (This is the famous "voting paradox" first described by the French
philosopher and mathematician Marquis de Condorcet (1743–1794).)
Please help me I will vote you
Chapter 22 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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