
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772 Exercise 14
We can apply voting paradoxes to the highway construction example of Chapter 4. Suppose there are only five people in a society and each favors one of the five highway construction options listed in Table 4.4 ("No new construction" is one of the five options). Explain which of these highway options will be selected using a majority paired-choice vote. Will this option be the optimal size of the project from an economic perspective?
Explanation
The voter preference that wins in this s...
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
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