ECON MICRO (with MindTap, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN: 9781337408059
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 16, Problem 6P
To determine
The consistency of offering “middle of the road” platforms with the median voter and rational ignorance concept.
Concept Introduction:
Rational ignorance is the decision that maximizes the utility to remain ignorant on a particular topic. If the action outweighs the
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A2)
Economics
Explain the importance of taxation which has been aptly considered one of the three fundamental powers of the state. (police power, eminent domain, taxation)
Question 2 A problem with the median voter outcome is that it does not take into account intensity of preferences. Suppose that the government decided to give multiple votes to people with strong preferences, pro or con. Does this solve the problem? Why or why not?
7. Rational voter ignorance
Which of the following statements regarding rational ignorance are true? Check all that apply.
Rational voter ignorance occurs when a voter chooses a candidate who supports policies that are not in the best economic interest of the
voter.
Because candidates take stands on a wide range of issues, a rationally ignorant voter may choose not to fully assess the costs and
benefits of voting for a particular candidate.
A rationally ignorant voter may choose a political candidate based simply on party affiliation or public appearances rather than the
candidate's positions on a wide range of issues.
Chapter 16 Solutions
ECON MICRO (with MindTap, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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- Question 2 Use the graph below to answer questions a-e: Price P1 PO P2 DO $1 SO E1 Q1 EO QO $1 SO DO Quantity a. Based on the above graph, the price sellers and buyers receive before the tax imposed are b. Based on the above graph, the price sellers and buyers will pay after the tax imposed are c. Based on the above graph, the size of the tax that sellers would pay is. ( d. Based on the above graph, the size of the tax that buyers would pay is .. e. Based on the above graph, the total of the tax imposed in this market is.arrow_forward(7) An increase in government spending would shift the __________________________ __________________________ __________________________ to the right.arrow_forwardNote:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward
- Please answer part a and b (question 2,3)arrow_forward1. Working with Numbers and Graphs Q1 Suppose that three major candidates-Manuel, Poornima, and Shen-are running for president of the United States, and the distribution of voters is as shown in the following diagram. NUMBER OF VOTERS Far Left Shen The Middle Poornima Manuel Far Right ?arrow_forwardExplain: “Politicians would make more rational economic decisions if they weren’t running for reelection every few years.”arrow_forward
- True or False: A tax on food leads to relatively little deadweight loss because people are not very sensitive to the price in this market. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.arrow_forwardSuppose there is an election for Soft Drink Commissioner. The field consists of one candidate hunt the Pepsi petty and four from the Coca-Cola party. This would seem to indicate a strong preference for Coca-Cola among the voting population, but the Pepsi candidate ends up winning in a landslide. Why does this happen?arrow_forwardNote:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward
- 2) What is straight-ticket voting? How does this help candidates in down ballot races?arrow_forward2. Consider an individual who not only consumes goods x and y, but also needs a mini- mum amount of x = xo to survive. Her (Stone-Geary) utility function is given by U(x, y) = (x − x₁)¹/2y¹/2 Let prices be pa, Py and income is I > Prxo.arrow_forward1-3 pleasearrow_forward
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