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There are three voters - Alpha, Beta and Gamma in a society. Let us also assume that these voters are facing three choices - A, B, and C. The voters have certain order of preference for these three choices which only they know.
a. Show and explain the paradox of cyclical voting and why there may not exist any majority voting equilibrium.
b. Now, show numerically that rank order voting will also not lead to a clear winner.
how should he change his bundle to reach his optimum? Explain your answer using the marginal utility condition at the optimal choice.
No preliminary estimate is available. Find the minimum sample size needed.
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Calculate the expected revenue, expected variable costs and expected costs from overbooking.
International executives working in foreign subsidiaries are often confronted with conflicting demands in their jobs. Headquarters (HQ) is keen on integrating k
Construct a numerical example to show that the exclusion of municipal bond interest from income taxation is equivalent to a government subsidy of state and local capital spending. Assume you believe that income is a good proxy for ability to pay. Wha..
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If the firm has a tax rate of 25% and a bond yield of 6.2%, what is the firm's weighted average cost of capital?
Some proposals for replacing the Affordable Care Act ("Obamacare") rely on an existing mechanism called health flexible spending accounts (FSA's).
Nominal GDP is the variable most commonly used to measure short-run economic fluctuations. These fluctuations can be predicted with some accuracy. Real GDP is the variable most commonly used to measure short-run economic fluctuations. It is almost im..
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