$100. According to Majority Rules voting, will the issue pass? According to marginal analysis, should the issue pass? Use the editor to format your answer

Q: What is the value base of communitarian capitalism?

A: The philosophy of communitarianism emphasises the individual's relationship to the greater…

Q: Explain the role that is played by the three decision makers in the economy

A: The firm, the household, and the government are the three basic economic units that carry out…

Q: If you are the employer of a business establishment, how will you apply utilitarianism using…

A: The utilitarian is used by the business firms to analyze and evaluate the decisions in light of its…

Q: Ed spends an hour studying instead of watching Netflix with his friends. The opportunity cost to him…

A: Opportunity cost is a fundamental concept in economics, representing the value of the next best…

Q: What are the primary wants and the secondary wants?

A: Wants can be defined as general effective desire for a particular commodity or the good which can be…

Q: In economics, what is an example of selection?

A: Economics refers to one of the branch of social studies which focuses on the living of people on the…

Q: Bob wants to put on a concert in his hometown of 200 people. The cost of the concert is $1000, and…

A: Given: Totaj number of people in the town = 200 Cost of the concert = $1000 Valuation of each person…

Q: According to Kenneth Arrow, there are minimum conditions to which a social choice rule…

A: Theorem asserts that converting individual preferences from a fair ranked-voting electoral system…

Q: The Marginal Benefit is zero when the Total Benefit curve is at its maximum. True or False

A: Marginal Benefit (MB): - it is the additional benefit derived from the consumption of additional…

Q: In negotiation, how can being respectful towards your opposition benefit both parties

A: A negotiation is a strategic discussion that helps in resolving an issue in a way that both parties…

Q: what are the examples of every college student in their decision (could range from small matters to…

A: College students consist of those populations whose main objective is to learn and improve skills…

Q: What is the term for the economic doctrine that holds that an economy works best with the minimum…

A: The government makes intervention in the economic activities. Government intervention might lead to…

Q: Which of the following factors do rational actor consider LEAST? a. cost to the producer b. personal…

A: Rational choice theory: It refers to a theory in which individuals use rational calculations to make…

Q: For each of the following social choice methods, which of Arrow's axioms (A.1-6) are violated, and…

A: Arrow's axioms are a set of conditions that Kenneth Arrow believed any reasonable social choice…

Q: Market failure means that?

A: The reasons for the market failure can be due to the: positive and the negative externalities,…

Q: What do you understand by the following terms:                  - Bounded rationality…

A: Bounded Rationality - Individuals are considered to be rational when making decisions, however,…

Q: What is the major function of the middleman? Would peoplebe better off if there were no middlemen?…

A: A middle layer of business is required in certain industries due to regulation, infrastructure, or…

Q: 36. An ethic based on the fundamental value that relationships should be preserved and maintained is…

A: d. communitarian Explanation:Approach to solving the question: A communitarian ethic places a strong…

Q: explain why negative externally creates a cost for the society and how it can be reduced  give an…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: Economic value is a utilitarian concept - do you agree or disagree? briefly explair and justify your…

A: Utilitarianism is a moral philosophy that promotes activities that bring happiness or pleasure while…

Q: The rational-ignorance effect is a result of a. b. the expectation of individual voters that their…

A: Rational ignorance is defined as the situation where an individual refrains from acquiring the…

Q: a. You are the coordinator of a nonprofit that distributes donated items to three local homeless…

A: To determine the most effective way of distributing donated items to the three local homeless…

Q: If an outcome is economically efficient, does this mean that everybody involved benefits? Why?

A: Economic efficiency refers to the optimal production and consumption of goods and services. This…

Q: Based upon those notions of self-interest and public interest and the bringing of both into harmony,…

A: The market economy is one in which the forces of supply and demand determine market price and…

Q: What is social responsibility? Can the government compel businesses in our country to abide by this…

A: In an economy, when an individual makes decision, his decision will influence the market when people…

Q: Select one of the external factors discussed in the text that influences business

A: Let We show that  that The company I have chosen is Nestle Maggi and the external factor is Food and…

Q: What are the two types of market failure and how are they corrected? Why doesn't the market self-…

A: Market failure is when the demand and supply of goods and services in an economy fails to produce…

Q: How did sectarian violence influence the shaping of some parts of the West?

A: The sectarian violence is also known as the sectarian strife and this was inspired from the…

Q: Adam Smith’s theory of the invisible hand is often used to justify a hands-off approach to market…

A: The automatic equibrialization of demand and supply in a free market situation by any unobservable…

Q: what is the role of government in bringing about Pareto-efficiency

A: Pareto efficiency, also known as Pareto optimality, is an economic condition in which resources…

Q: There are 500,000 people in Merageville. Each one of them enjoys hikes through the forest at the…

A: Pareto efficiency, also known as Pareto optimality is an economic state where resources cannot be…

Q: What does rationalism mean within the context of political economy?

A: Political economy refers to the branch of social sciences that studies the interrelationships among…

Q: What are the three goals of the Benefit-cost analysis problems?

A: Cost Benefit Analysis is a comprehensive method to assessing the strengths and disadvantages of…

Q: example of marginalism

A: Marginalism generally includes the study of marginal theories and relationships within economics.…

Q: What are two characteristics of a Political Economy that are conducive to entrepreneurs (i.e., they…

A: Political economy is a system that focuses on and studies the relationship between government and…

Q: To what extent should the government interven in the market? Write a long 500 word answer.

A: The government interference in the market is restricted by Keynes, according to him the government…

Q: Political values are important because individuals often use values to Select an answer and submit.…

A: A political belief suggests how politics should work. The political culture explains how citizens…

Q: Discuss how conflict can Manifest itself.

A: The conflict between employees in the workplace is fairly prevalent, even in small businesses. Even…

Q: Define fairness and give examples of how it affects behavior in the economy and in the dictator and…

A: The ultimatum game has grown to be a popular instrument in experimental economics. The use of this…

Q: Define social cost.

A: The private cost is the cost which is incurred by the producer to purchase the factor of production.…

Q: Select one or more: a. A Pareto efficient outcome is where you cannot make anyone better off without…

A: When an economy's resources and goods are distributed to their optimum efficiency, no changes can be…