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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