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Question: For each of the following voting rules determine if it violates one of Arrow's conditions (P, D,or I): the method of majority rule, a round-robin tournament, the unanimity rule (i.e. aPoy if and only if at least one member of society strietly prefers z to y, and no members of society strietly prefer y to r), and the lexicographic rule (society adopts the preferences of the individual whose name comes first alphabetically). If not, give a simple example to show, that it can generate preference cycles.
Assume that popcorn and potato chips are substitutes, and popcorn and cola are complements. How does a ceiling price (below equilibrium) on popcorn affect.
Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010.
Determine which IPRs are worth protecting and the extent and type of protection that is socially efficient. Discuss the social benefits and costs of protecting IPRs
write a 1750 to 2450 word paper in which you decide whether to purchase a house.discuss which principles of economics
1. There are four basic types of market structures with their own characteristics and outcomes, yet they also have characteristics in common. Which market structure would you say is most common in the United States. Be sure to be thorough, giv..
Through formal training programs and informal means, unions seek to mobilize and guide political action among their members. Given the magnitude of these efforts, do they also cultivate broader social capital?
You know that the income elasticity of demand for doughnuts is equal to 1.2 You read in the newspaper that the economy has entered a recession
There is much discussion in the press about several states moving to legalizing marijuana, either for only medical purposes, or more extremely, for recreational purposes. Looking only at the economic impact (not moral implications) of such changes in..
Who's Hiding under the U.S. Umbrella? Students of the Cold War learn that, to deter possible Soviet aggression, the United States placed a "strategic umbrella".
Suppose you are provided with the following data for your country for a particular month: 200 million people are working, 20 million are not working.
what is the relationship between the price of crude oil and the price you pay at the pump for gasoline? the file oil
When economists are sketching examples of a supply or demand curve that is close to horizontal, they refer to that demand or supply curve as ____________.
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