.7. Create a profile in which candidate A wins the antiplurality election, candidate B wins the Borda count election, while candidate C wins the Copeland method.
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2.7. Create a profile in which candidate A wins the antiplurality election,
candidate B wins the Borda count election, while candidate C wins the
Copeland method.
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- 12 Demand elasticity and social loss. Consider two vaccines for difffferent viruses χ and Ω Assume that the marginal cost of producing both drugs is constant and that the fixed cost is small. In other words, assume that the supply curve for both drugs is flat. a Suppose that demand for vaccine χ is price elastic, whereas demand for vaccine Ω is relatively inelastic. Plot the private demand curve for both drugs on separate axes. b For the sake of example, assume that both viruses have the same externality. Plot the social demand curve for both drugs and label the social loss in each case. c Explain intuitively why, all else equal, social loss is greater in the case of elastic demand than it is in the case of inelastic demand.Suppose the following model of govemment efficiency. Ublity function over consumption of private goods (C) and pubic goods (G) is such that this country desires to have 2 units of consumption good per each unit of public good Exogenous Income: Y= 20 Lump-sum taxT Govermment eficiency: a (This measures the number of public goods that can be produced from one unit of private consumption good) it the optimai lump-sum tax, T. that maximizes the representative consumer's utity and balance the government budget, is 10, then what is the value govemment eficiency. g? OA 1/3 OB 05 Oc. 02 OD. 23 OE none of the aboveIndicate whether the statement is true or false, and justify your answer.Pigouvian taxes always improve social welfare.
- The Condorcet paradox illustrates Arrow’simpossibility theorem by showing that pairwisemajority votinga. is inconsistent with the principle of unanimity.b. leads to social preferences that are not transitive.c. violates the independence of irrelevantalternatives.d. makes one person in effect a dictator.Suppose that Katie and Kelly each expect to receive $500 worth of marginal benefits from a proposed new recreation center, whereas Kerry expects to receive only $100 worth. If the proposed tax levied on each for the center would be $450, a majority vote will Multiple Choice pass this project. defeat this project and resources will be underallocated to it. defeat this project. pass this project and resources will be efficiently allocated to it.Consider a Downsian electoral competition over the line [−1, 1] where there are 11 voters. Each voter has a single-peaked preferences over the policies. Voter 1’s peak is at -1, voter 2’s at -0.8, ..., voter 6’s at 0, voter 7’s at 0.2, ..., and voter 11’s at 1. Suppose there are two candidates, {D, R} and if they get equal votes the tie is broken by a coin toss—that is, both wins the election with probability 1/2. (a) What is the Nash Equilibrium of this game? (b) Now suppose that there is an ideological candidate C that positions himself at -1 whatever the other candidates do. Is there a Nash Equilibrium of the game? If so, what is it? (c) Suppose now that there is another ideological candidate at 1. Is there an equilibrium and what is it?
- 7) There is some popular unrest in a dictatorship. The population might be in a revolutionary mood, in which case they would be willing to violently overthrow the dictator, or just grumbling, in which case they would not. There is a 30% chance the population is in a revolutionary mood. The population knows their own type, but the dictator does not. After nature chooses whether the population is in a revolutionary mood, the population can decide to protest or not. The dictator observes the populations behavior, and then can peacefully resign or hold onto power. The dictator can make this choice whether or not the population protests. If the dictator holds onto power, the population can violently overthrow the dictator or not. The dictator gets 50 utility for retaining power, O utility if they peacefully resign, and -100 utility if they are overthrown. The revolutionary population gets 50 utility for the dictator resigning, 30 utility for overthrowing the dictator, and -50 utility for…Consider the market for trees in a public park. These trees are a public good that give benefits to multiple groups of people, as described below. Each Marginal Willingness to Pay curve represents the aggregation of all the individuals in that group, and those groups make decisions collectively. Additionally, the cost of planting trees is given. Consider Q to be the number of trees in the park. Note that no one is ever worse off from additional trees. Arborists: MWTP = 2000 – 5Q Total WTP = 2000Q - 2.5Q2 Environmentalists: MWTP = 1500 – 10Q Total WTP = 1500Q – 5Q2 Casual Park Visitors: MWTP = 800 – 10Q Total WTP = 800Q – 5Q2 Park Haters: MWTP = 500 – 50Q Total WTP = 500Q – 25Q2 MC = 1400 Total Cost = 1400Q (a) If the government does not intervene into the market, how many trees will be planted? (b) What is the socially…Match the following according to the criterion. If a candidate receives [ Choose ] more than half the first- place votes in an election, then that candidate should be declared the winner. If a candidate is favored [ Choose ] when compared separately with every other candidate in an election, then that candidate should be declared the winner. If a candidate wins an [ Choose] election and, in a reelection, the only changes are changes that favor the candidate, then that candidate should win the reelection. If a candidate wins an [ Choose ] election and, in a recount, the only changes are that one or more of the other candidates are removed from the ballot, then that candidate should still win the election.
- 4.1. The vote-for-two method works as follows: Candidates get apoint whenever a voter ranks them first or second. The candidate withthe most points is declared to be the winner (or if several candidates tiefor the most points, they are all declared to be winners).(a) Does the vote-for-two method satisfy the Condorcet criterion?(b) Does the vote-for-two method satisfy the anti-Condorcet criterion?(c) Does the vote-for-two method satisfy the Pareto property?(d) Is the vote-for-two method independent?Germany and the US are both presidential systems. Group of answer choices True FalseSpecial interest groups tend to be able to infil hce legis O a. special interest groups have rational ignorance. O b. voters have an incentive to oppose the legislation. O c. the costs for voters opposing the legislation are higher than the benefits. O d. special interest groups have an incentive to educate voters.