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In the system of “approval voting”, a citizen may vote for as many candidates as she wishes. If there are two candidates, say A and B, for example, a citizen may vote for neither candidate, for A, for B, or for both A and B. As before, the candidate who obtains the most votes wins.
(a) Show that any action that includes a vote for a citizen’s least preferred candidate is weakly dominated, as is any action that does not include a vote for her most preferred candidate.
(b) Show that if there are k candidates then for a citizen who prefers candidate 1 to candidate 2 to . . to candidate k, the action that consists of votes for candidates 1 and k − 1 is not weakly dominated.
Consider a market where demand is d:p=24-Q and supply is s:p=2+Q. impose a specific tax t= $2 on each unit sold in the above market.
Determine two (2) likely factors that might have caused the change. Predict the primary manner in which this change would likely impact business operations in the new market environment.
Each employer faces competitive weekly wages of $2,000 for blacks and $2,700 for whites. Suppose employers undervalue the efforts/skills of blacks in the production process. In particular, every firm is associated with a discrimination coefficient d,..
The labor abundant countries of asia have experiences rapidly rising wages since those economies liberalized their international trade policies. Does this observation match the predictions of international trade theory? Explain.
Suppose the demand and supply for wine within the U.S. is: Suppose the demand and supply for wine in the rest of the world (R.O.W.) is: Calculate the deadweight loss if the U.S. imposes a tariff of 25 cents per bottle of imported wine.
Calculate the prot-maximizing monopoly price and quantity. Calculate the price and quantity that arise under perfect competition with a market supply curve P = Q=2.
Able Plastics, an injection-molding firm, has negotiated a contract with a national chain of department stores. Plastic pencil boxes are to be produced for a 2-year period. Able Plastics has never produced the item before and requires all new dies. I..
question 1 nbspa group of rogue french farmers has gone on a furious egg breaking rampage destroying tens of thousands
suppose that the interest rates in the u.s. and germany are equal to 5 that the forward one year value of the euro is
President Bill Clinton assigned his wife to task of developing a national health insurance plan to increase availability of medical care for poor. How would one determine opportunity cost of proposal.
Select the scenarios that result in lower prices if they were to occur in isolation? Consumers can make costly mistakes when not enough information is available. Which of the following represents a market solution to obtaining costly information?
Income elasticity can be either positive or negative depending on an item we are considering?
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