Median voter model and its exceptions.

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Answer 1

Question

Chapter 19, Problem 1QP

To determine

Median voter model and its exceptions.

Expert Solution & Answer

Explanation of Solution

The median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences. The two politicians, Barry Goldwater (1964) and George McGovern (1972), are at the right and left end of the two ranges from middle, respectively. These two candidates may fall into the middle of the two ranges. However, it is difficult to find out the middle. Thus, it is necessary to note the activities of respective political parties in the next years.

During the presidential election of 1964, the Republican Party with Goldwater suffered a defeat and party chooses a candidate Richard Nixon, who is nearer to the middle of the two ranges. During the election of 1968, the Republican Party wins.

During the election of 1972, the Democratic Party suffered a defeat with George McGovern and party chooses a candidate, Jimmy Carter, who is nearer to the middle of the two ranges and wins in the election of 1976.

Thus, these are not necessarily exceptions to the theory of median voter but correct statements.

Economics Concept Introduction

Median voter model: Median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences.

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Problem 2: The sales data over the last 10 years for the Acme Hardware Store are as follows: 2003 $230,000 2008 $526,000 2004 276,000 2009 605,000 2005 328,000 2010 690,000 2006 388,000 2011 779,000 2007 453,000 2012 873,000 1. Calculate the compound growth rate for the period of 2003 to 2012. 2. Based on your answer to part a, forecast sales for both 2013 and 2014. 3. Now calculate the compound growth rate for the period of 2007 to 2012. 1. Based on your answer to part e, forecast sales for both 2013 and 2014. 5. What is the major reason for the differences in your answers to parts b and d? If you were to make your own projections, what would you forecast? (Drawing a graph is very helpful.)

Exercise 4A firm has the following average cost: AC = 200 + 2Q – 36 Q Find the stationary point and determine if it is a maximum or a minimum.b. Find the marginal cost function.

Answer 2

Question

Chapter 19, Problem 1QP

To determine

Median voter model and its exceptions.

Expert Solution & Answer

Explanation of Solution

The median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences. The two politicians, Barry Goldwater (1964) and George McGovern (1972), are at the right and left end of the two ranges from middle, respectively. These two candidates may fall into the middle of the two ranges. However, it is difficult to find out the middle. Thus, it is necessary to note the activities of respective political parties in the next years.

During the presidential election of 1964, the Republican Party with Goldwater suffered a defeat and party chooses a candidate Richard Nixon, who is nearer to the middle of the two ranges. During the election of 1968, the Republican Party wins.

During the election of 1972, the Democratic Party suffered a defeat with George McGovern and party chooses a candidate, Jimmy Carter, who is nearer to the middle of the two ranges and wins in the election of 1976.

Thus, these are not necessarily exceptions to the theory of median voter but correct statements.

Economics Concept Introduction

Median voter model: Median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 19, Problem 1QP

To determine

Median voter model and its exceptions.

Expert Solution & Answer

Explanation of Solution

The median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences. The two politicians, Barry Goldwater (1964) and George McGovern (1972), are at the right and left end of the two ranges from middle, respectively. These two candidates may fall into the middle of the two ranges. However, it is difficult to find out the middle. Thus, it is necessary to note the activities of respective political parties in the next years.

During the presidential election of 1964, the Republican Party with Goldwater suffered a defeat and party chooses a candidate Richard Nixon, who is nearer to the middle of the two ranges. During the election of 1968, the Republican Party wins.

During the election of 1972, the Democratic Party suffered a defeat with George McGovern and party chooses a candidate, Jimmy Carter, who is nearer to the middle of the two ranges and wins in the election of 1976.

Thus, these are not necessarily exceptions to the theory of median voter but correct statements.

Economics Concept Introduction

Median voter model: Median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 19, Problem 1QP

To determine

Median voter model and its exceptions.

Expert Solution & Answer

Explanation of Solution

The median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences. The two politicians, Barry Goldwater (1964) and George McGovern (1972), are at the right and left end of the two ranges from middle, respectively. These two candidates may fall into the middle of the two ranges. However, it is difficult to find out the middle. Thus, it is necessary to note the activities of respective political parties in the next years.

During the presidential election of 1964, the Republican Party with Goldwater suffered a defeat and party chooses a candidate Richard Nixon, who is nearer to the middle of the two ranges. During the election of 1968, the Republican Party wins.

During the election of 1972, the Democratic Party suffered a defeat with George McGovern and party chooses a candidate, Jimmy Carter, who is nearer to the middle of the two ranges and wins in the election of 1976.

Thus, these are not necessarily exceptions to the theory of median voter but correct statements.

Economics Concept Introduction

Median voter model: Median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 19, Problem 1QP

To determine

Median voter model and its exceptions.

Expert Solution & Answer

Explanation of Solution

The median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences. The two politicians, Barry Goldwater (1964) and George McGovern (1972), are at the right and left end of the two ranges from middle, respectively. These two candidates may fall into the middle of the two ranges. However, it is difficult to find out the middle. Thus, it is necessary to note the activities of respective political parties in the next years.

During the presidential election of 1964, the Republican Party with Goldwater suffered a defeat and party chooses a candidate Richard Nixon, who is nearer to the middle of the two ranges. During the election of 1968, the Republican Party wins.

During the election of 1972, the Democratic Party suffered a defeat with George McGovern and party chooses a candidate, Jimmy Carter, who is nearer to the middle of the two ranges and wins in the election of 1976.

Thus, these are not necessarily exceptions to the theory of median voter but correct statements.

Economics Concept Introduction

Median voter model: Median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences.

Answer 6

Chapter 19, Problem 1QP

To determine

Median voter model and its exceptions.

Expert Solution & Answer

Explanation of Solution

The median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences. The two politicians, Barry Goldwater (1964) and George McGovern (1972), are at the right and left end of the two ranges from middle, respectively. These two candidates may fall into the middle of the two ranges. However, it is difficult to find out the middle. Thus, it is necessary to note the activities of respective political parties in the next years.

During the presidential election of 1964, the Republican Party with Goldwater suffered a defeat and party chooses a candidate Richard Nixon, who is nearer to the middle of the two ranges. During the election of 1968, the Republican Party wins.

During the election of 1972, the Democratic Party suffered a defeat with George McGovern and party chooses a candidate, Jimmy Carter, who is nearer to the middle of the two ranges and wins in the election of 1976.

Thus, these are not necessarily exceptions to the theory of median voter but correct statements.

Economics Concept Introduction

Median voter model: Median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences.

Answer 7

Chapter 19, Problem 1QP

To determine

Median voter model and its exceptions.

Answer 8

Expert Solution & Answer

Explanation of Solution

The median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences. The two politicians, Barry Goldwater (1964) and George McGovern (1972), are at the right and left end of the two ranges from middle, respectively. These two candidates may fall into the middle of the two ranges. However, it is difficult to find out the middle. Thus, it is necessary to note the activities of respective political parties in the next years.

During the presidential election of 1964, the Republican Party with Goldwater suffered a defeat and party chooses a candidate Richard Nixon, who is nearer to the middle of the two ranges. During the election of 1968, the Republican Party wins.

During the election of 1972, the Democratic Party suffered a defeat with George McGovern and party chooses a candidate, Jimmy Carter, who is nearer to the middle of the two ranges and wins in the election of 1976.

Thus, these are not necessarily exceptions to the theory of median voter but correct statements.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Median voter model: Median voter model refers to a two-person contest where the endeavor of political candidates matches the median voter’s preferences.

Answer 12

Ch. 19.3 - Prob. 1ST Ch. 19.3 - Prob. 2ST Ch. 19.3 - Prob. 3ST Ch. 19.4 - Prob. 1ST Ch. 19.4 - Prob. 2ST Ch. 19.6 - Prob. 1ST Ch. 19.6 - Prob. 2ST Ch. 19.6 - Prob. 3ST Ch. 19.6 - Prob. 4ST Ch. 19 - Prob. 1QP

Median voter model and its exceptions.

Median voter model and its exceptions.

Explanation of Solution

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