Explain why the median voter outcome need not be efficient

Assignment Help Microeconomics
Reference no: EM13902790

1. Public television is funded in part by private dona- tions, even though anyone with a television set can watch for free. Can you explain this phenomenon in light of the free rider problem?

2. Explain why the median voter outcome need not be efficient when majority-rule voting determines the level of public spending.

Reference no: EM13902790

Questions Cloud

Contrast the theories of congressional behavior espoused : contrast the theories of congressional behavior espoused by Mayhew in Congress:
What may management of star company do to solve its problem : Assuming that the auditor is right, what may management of Star Company do to solve its problem?
Why is there an externality created by the firms : A number of firms have located in the western portion of a town after single-family residences took up the eastern portion. Each firm produces the same product and in the process emits noxious fumes that adversely affect the residents of the commu..
How much daily output is achieved by each of cycle times : An assembly line with 18 activities is to be balanced. The total amount of time to complete all 18 activities is 43 minutes. The longest activity takes 5.5 minutes and the shortest takes 2.5 minutes. The line will operate for 840 minutes a day. What ..
Explain why the median voter outcome need not be efficient : Public television is funded in part by private dona- tions, even though anyone with a television set can watch for free. Can you explain this phenomenon in light of the free rider problem?
Deliver goods or services to customers as efficiently : Businesses try to create systems that deliver goods or services to customers as efficiently as possible. This often involves multiple steps and systems that hopefully work together to accomplish that goal. Explain the systems perspective, and identif..
Explain validity and reliability and distinguish : Explain validity and reliability and distinguish between the 2 concept
What will alert megan mckinney-the controller : Sandra Kristof sells furniture for McKinney Furniture Company. Kristof is having financial problems and takes $650 that she received from a customer. She rang up the sale through the cash register. What will alert Megan McKinney, the controller, that..
Why free access to property resource generate inefficient : Public goods are both nonrival and nonexclusive. Explain each of these terms and show clearly how they differ from each other.

Reviews

Write a Review

Microeconomics Questions & Answers

  Dr fine and dr feelgood are the only two medical doctors

dr. fine and dr. feelgood are the only two medical doctors offering immediate walk-in medical services in the town of

  Underlying assumptions of kinked-demand curve

What assumptions about the rival's response to price changes underlie the kinked-demand curve for oligopolists? Why is there the gap in the oligopolist's marginal-revenue curve? How does the kinked-demand curve describe price rigidity in oligopoly..

  An income elasticity

An income elasticity (Ey) of 2.0 indicates that for a ____ increase in income, ____ will increase by ____.

  How much can they withdraw each year in question

The parents of a child set up a college fund for her. They contribute $450 monthly to the fund which pays 4.25 % interest compounded monthly.

  To calculate the firm''s total revenues change

You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y.

  The federal reserve wants to increase the money

The Federal Reserve wants to increase the money supply by printing and distributing 1 million dollars worth of currency notes. What will be the actual increase in money supply if the public holds one fourth of the currency as cash, and deposits rest ..

  Difference in amount of depreciation that would be claimed

A construction company is considering changing its depreciation from the MACRS method to the historical SL method for a general purpose hauling truck. The cost basis of the truck is $90,000, and the expected salvage value for depreciation purposes is..

  Determine what price katrinas candies should charge

Determine what price Katrina's Candies should charge in order for the company to maximize profit in the short run. Determine the quantity that would be produced at this price and the maximum profit possible.

  Determine the profit-maximizing price

The manager of a local monopoly estimates that the elasticity of demand for its product is equal to -3, and the marginal cost is at $20. Express the firm’s marginal revenue as a function of its price. Determine the profit-maximizing price.

  Cfc cornflakes, in dollars per 10-ounce box

Integrating Problem: The research department of the Corn Flakes Corporation (CFC) estimated the following regression for the demand of the cornflakes it sells:QX = 1.0 - 2.0PX + 1.5I + 0.8PY - 3.0PM + 1.0Awhere QX = sales of CFC cornflakes, in millio..

  What is the ac minimizing quantity for a single firm

Suppose an industry has potential firms with identical technologies with TC = 200 + 2*(Q^2). The demand curve in this industry is D(p) = 18 - ¼ p.

  How might four ps be adjusted as result of social class

How should social class influences affect the planning of a new restaurant in a large city How might the four Ps be adjusted as a result of social class influences

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd