Suppose there 3 people-1,2,3,and 3 projects-A BCThe individual preference is as follows1CВA2AВ3ASketch the preferencesWill any project be chosen by a majority vote rule?If so, which oneIf not, explain itSuppose there three voters ABC and three projects-environmental protection, technologyresearch and innovation and medicare program. The net benefit of three people ABC from the implementation of three project are as followsenvironmental protectiontechnology research and innovationmedicare programA+100-80-80В-120+150-100C-60-110+70QuestionWhich issue would pass if decided by majority rule? Is this the efficient outcome?Which issues would pass if logrolling is allowed? And how? Would it result in efficient result?

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Suppose there 3 people-1,2,3,and 3 projects-A BC The individual preference is as follows 1 C A 2 A C В 3 B A Sketch the preferences Will any project be chosen by a majority vote rule? If so, which one If not, explain it

Suppose there 3 people-1,2,3,and 3 projects-A BC The individual preference is as follows 1 C A 2 A C В 3 B A Sketch the preferences Will any project be chosen by a majority vote rule? If so, which one If not, explain it

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose there 3 people-1,2,3,and 3 projects-A BC
The individual preference is as follows
1
C
В
A
2
A
В
3
A
Sketch the preferences
Will any project be chosen by a majority vote rule?
If so, which one
If not, explain it
Suppose there three voters ABC and three projects-environmental protection, technology
research and innovation and medicare program. The net benefit of three people ABC from the im
plementation of three project are as follows
environmental protection
technology research and innovation
medicare program
A
+100
-80
-80
В
-120
+150
-100
C
-60
-110
+70
Question
Which issue would pass if decided by majority rule? Is this the efficient outcome?
Which issues would pass if logrolling is allowed? And how? Would it result in efficient result?

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