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3 voters, A, B, and C, will decide by majority rule whether to pass bills on issues X and Y. Every of the two issues will be voted on indiviually. The change in net profits (in dollars) that would result from the passage of every bill is as follows: Issue Voter X Y A +6 -3 B -1 +4 C -2 -31. Which issues (if any) will pass if decided by majority rule? Is this the efficient outcome? And another question is which issues (if any) would pass if logrolling were permitted? Would logrolling improve efficiency? Would it result in the efficient outcome?
2. Assume that it were legal for one voter to pay another voter to vote in a some way. Would permitting such side payments improve efficiency in part b? Would it result in the efficient outcome?
3. What amount of side payments would take place if paying for votes were permitted?
Explain the nature &importance of micro economic?
Q. Is Heterogeneity the sole cause of conflict of interests? Explain heterogeneity as a cause of variation of aspirations of agents leading to formation of various special inte
how should write and from where to get matters?
Suppose the firm mark up over the cost is 10% and the wage setting equation is W=P (1-u) where U is the unemployment rate. a) Find out the real wage rate implied by the price se
The structural interdependence, in fact, forms the basis for the policy maker's choice behaviour for policy or policy mixes. The spectrum formed by various policy mixes depends on
why is it important to consider the complex nature of health and health care when examining economic principles related to health care delivery?
A dam is proposed on a stretch of wild river, a river that is currently used for recreation. The dam will generate electricity. The dam will have a useful life of 50 years, after w
Q. Describe ex-ante heterogeneity? First conflict reflects heterogeneity among agents due to different policy preferences. Individuals or agents are heterogeneous in a number o
Question: Describe the main measures of size and/or cutoff point below which economies are classed as small? In 1982 the Development Committee of the World Bank and the Int
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