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Define a collective choice procedure as satisfying the ‘‘top condition'' if an alternative is never among the social choices unless it is on top of at least one individual preference list. Prove or disprove each of the following:
a. Plurality voting satisfies the top condition.
b. The Condorcet method satisfies the top condition.
c. Sequential pairwise voting satisfies the top condition.
d. A dictatorship satisfies the top condition.
e. Approval voting satisfies the top condition.
f. Runoff voting satisfies the top condition.
g. If a procedure satisfies the top condition, then it satisfies the Pareto condition.
h. If a procedure satisfies the top condition, then it selects the Condorcet winner (if any).
Assume the city imposes a new requirement for a $100 per year taxi license fee for all drivers. Assume the regulated price remains fixed at $40. how many rides will the driver provide now and what are his profits
Evaluate Eskoms products in terms of the availability of close substitutes
The banking market in Athens, Ohio, currently has four banks with market shares of 60%, 20%, 15%, and 5%. The two smallest banks have proposed merging. Under the standard merger guidelines of the Federal Reserve and the Justice Department.
Little Kona is a small coffee company that is considering entering a market dominated by Big Brew. Each company's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price
a refresher on how to calculate a riskier investment, when Company A has expected returns of $50,000 and standard diviation of $40,000. Company B has expected returns of $250,000 and standard deviation of $125,000.
How Much Oversight? After the financial crisis in 2008, Congress wanted to have more oversight of the Fed and some suggested that the Government Accountability Office even audit the decisions of the Fed. What are the risks of this increased oversi..
Consider a consumer that chooses a bundle of leisure time (r) and a composite good (c) to maximize the utility function U(c, r) = c + 16(r1/2), where c is the number of units of the composite good consumed, and r is the number of hours of leisure ..
he Einstein Bagel Corp. offers a frequent buyer program whereby a consumer receives a statmp each time she purchases one dozen bagels $5. After a consumer accrues 10 stamps, she receives one dozen bagels free.
"Between 1997 and 2001, many apple farmers switched from traditional to organic growing methods, increasing production of organically grown apples from 1.2 million boxes per year to more than 3 million boxes."
Assume market demand increases and that the new demand curve is nowQd = 50 - P. Further assume the government provides to eachfirm, a subsidy of $40 per unit of output produced. Thus the supply curve now becomes Qs = 10 + 2(P+40).
Solve Tracy's problem of how often to go to the ATM when the norminal interest rate on her bank account is 10%, she spends $30 each day, it costs her $0.50 each time she uses the ATM, and she thinks that there is a 15% chance that she will lose he..
The demand curve and supply curve for one-year discount bonds with a face value of $1,000 are represented by the following equations: Bd: Price = -0.06 Quantity + 1140 Bs Price = Quantity + 700 suppose that, as a result of monetary policy actions.
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