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In the system of “approval voting”, a citizen may vote for as many candidates as she wishes. If there are two candidates, say A and B, for example, a citizen may vote for neither candidate, for A, for B, or for both A and B. As before, the candidate who obtains the most votes wins.
(a) Show that any action that includes a vote for a citizen’s least preferred candidate is weakly dominated, as is any action that does not include a vote for her most preferred candidate.
(b) Show that if there are k candidates then for a citizen who prefers candidate 1 to candidate 2 to . . to candidate k, the action that consists of votes for candidates 1 and k − 1 is not weakly dominated.
A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have $60,000 for his or her education. He plans to setup a perpetual trust fund so that six children will receive this assistance in each generati..
Billboards cost money to make and don't really seem to significantly benefit anyone other than billboard-makers. A company c putting up billboards presumably increases profits from the resulting increased number of customers, but don't competing busi..
In the immediate market period for a highly-perishable crop like tomatoes, the individual farmer's supply curve tends to be:
Sterling, Inc. is a manufacturer of state-of-the-art computers. For the past ten years, Sterling has acquired all of its microchips from NoBugs Corporation, the only producer of chips meeting Sterling's high specifications. The relationship has been ..
Panther Hall is a college dorm with 100 residents who each have the identical demand function for a pleasant community room, given by the equation MB = 1000 – 9.95Q. The marginal cost of maintaining the community room is MC = 1500 + 5Q, where Q = squ..
A domestic subsidy to enable an industry to compete against imports:
q1. assume the following data for a country total population population under 16years age of institutionalized 120 not
How will commercial airlines respond to the threat of new $27,500 fines for keeping passengers on the tarmac for more than 3 hours? What inefficiency will this create? I recently sold my used car. If no new production occurred for this transaction, h..
Suppose the city eliminates its restrictions on books stores, allowing additional stores to enter the marketplace.
q1.if the inverse demand function toaster is p60-q what is the consumer surplus if price is 30?q2. statistically
Suppose the RBA were to implement a simple rule for monetary policy, such as one that makes the monetary aggregate M3 rise at a steady rate of 3% per year. When would this rule work and when would problems occur with such a rule?
During the course of one day, airlines cut fares on nearly 35,881 routes. (a) Briefly explain why airlines might be more likely to match price cuts than price increases. (b) Which theory of oligopolistic behavior does the above situation most res..
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