Need help with this. I provided possible solutions, you must pick one only. THanks! **Instructions:**Fill in the table with each roommate’s preferred location, assuming that a given roommate will abstain if he or she has no preference.---**Roommate Preferences Table:**| Roommate | Vote ||----------|----------------------------|| Jackson | Abstain/Cancun/Virginia Beach || Hope | Abstain/Cancun/Virginia Beach || Zachary | Abstain/Cancun/Virginia Beach || Phoebe | Abstain/Cancun/Virginia Beach |---**Selection and Analysis:**- Under majority rule, the roommates will vote to go to **Cancun/Virginia Beach**. Therefore, majority rule leads to an economically **efficient/inefficient** outcome.---Suppose Phoebe misses the vote, leaving Jackson, Hope, and Zachary to figure out where they’re going to go.Jackson and Zachary argue for their preferred destinations, but Hope offers to vote with Jackson if Jackson will vote on her side in an upcoming class election. This is an example of **rational ignorance/a progressive tax/special-interest effect/logrolling**. **5. Majority-rule benefit-cost analysis**Jackson, Hope, Zachary, and Phoebe are college roommates. They're trying to decide where the four of them should go for spring break: Virginia Beach or Cancun. If they order the tickets by 10:00 PM on February 1, the cost will be just $500 per person. If they miss that deadline, the cost rises to $1,200 per person.The following table shows the benefit (in dollar terms) that each roommate would get from the two trips.| Roommate | Benefit from Virginia Beach | Benefit from Cancun ||----------|-----------------------------|---------------------|| Jackson | $600 | $1,300 || Hope | $850 | $850 || Zachary | $900 | $700 || Phoebe | $1,100 | $650 |The roommates tend to put off making decisions. So, when February 1 rolls around and they still haven't made a decision, they schedule a vote for 9:00 PM that night. In case of a tie, they will flip a coin between the two vacation destinations.The roommates will get the most total benefit if they choose to go to **Cancun**.Given the individual benefits each roommate receives from the two trips, which trip will each roommate vote for?

The cost-benefit analysis includes explaining the potential costs and benefits of regulation in quantified and monetized— that is, assigned a dollar value—expression when possible, and otherwise in qualitative expression. ANSWERS: The roommates will get the most TB if they choose to go to Cancun As Cancun total benefit (1300+850+700+650) = 3500 is more than, Virginia Beach (600+850+900+1100) = 3450 Roommate Jackson Hope Zachary Phoebe Vote Cancun Abstain Virginia Beach Virginia Beach Total benifits (Virginia Beach v/s Cancun) 600<1300 850=850 900>700 1150>650Under majority rule, the roommates will vote to go to Virginia Beach. Therefore, majority rule leads to an economically inefficient outcome. (Inefficient because Cancun has more benefits than Virginia Beach) This is an example of logrolling Logrolling is a kind of practice where people exchange favors with each other especially when it comes to voting in politics. Here, because Hope offers to exchange favors with Jackson in exchange for a vote for Hope for an upcoming class election, this is an example of logrolling.