A lobbyist in our nation’s capitol must buy 250 votes in the House of Representatives and Senate to win passage of a bill to add Millard Fillmore’s face to Mount Rushmore. Votes in Congress can be purchased according to the following process: V = CM/100,000, where C is the number of dollars contributed to campaign funds and M is the number of three-martini lunches. If three-martini lunches cost $25 each, what is the smallest expenditure the lobbyist could make to ensure Mr. Fillmore’s proper place in history? Option A) 1,000,000 Option B) 25,000,025 Option C) 130,000 Option D) 50,000 Option E) 25,000,000
A lobbyist in our nation’s capitol must buy 250 votes in the House of Representatives and Senate to win passage of a bill to add Millard Fillmore’s face to Mount Rushmore. Votes in Congress can be purchased according to the following process: V = CM/100,000, where C is the number of dollars contributed to campaign funds and M is the number of three-martini lunches. If three-martini lunches cost $25 each, what is the smallest expenditure the lobbyist could make to ensure Mr. Fillmore’s proper place in history? Option A) 1,000,000 Option B) 25,000,025 Option C) 130,000 Option D) 50,000 Option E) 25,000,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
A lobbyist in our nation’s capitol must buy 250 votes in the House of Representatives and Senate to win passage of a bill to add Millard Fillmore’s face to Mount Rushmore. Votes in Congress can be purchased according to the following process: V = CM/100,000, where C is the number of dollars contributed to campaign funds and M is the number of three-martini lunches. If three-martini lunches cost $25 each, what is the smallest expenditure the lobbyist could make to ensure Mr. Fillmore’s proper place in history?
Option A) 1,000,000
Option B) 25,000,025
Option C) 130,000
Option D) 50,000
Option E) 25,000,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Could you please explain why you divided the 250 votes by 2?
Solution
by Bartleby Expert
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education