Consider an Election with Three Candidates with the Results

question 11

Short Answer

Consider an election with three candidates with the results: ​
​
Is there a majority winner? If not, who is the plurality winner? Answer No, B; Yes, C; No, C; No, A; or Yes, B
Who wins using the pairwise comparison method? Answer A, C, or
B.
Is the ordering for the choices for candidates in the previous question transitive? Answer yes or no.

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Definitions:

Fixed Budget

A financial plan that does not change or fluctuate with the volume of business activity.

Standard Costs

Predetermined costs for the production of goods or services, used as benchmarks to measure actual performance and manage costs.

Actual Costs

Actual costs are the genuine expenditures incurred by a company, as opposed to estimated costs, during a given period for production, services, or other activities.

Reasonableness

A test or criterion to evaluate whether the assumptions or outputs of a financial model or decision are logical and align with real-world expectations.