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Total Costs
The complete sum of all expenses incurred by a company in producing and marketing a product or service.
Paradox Of Voting
A situation where paired-choice voting by majority rule fails to provide a consistent ranking of society’s preferences for public goods or public services.
Majority Voting
A voting system in which the option that receives more than half of the votes wins, often used in elections and decision-making processes.
Median Voter
The voter positioned at the median of the preference spectrum, whose choices can represent the most typical or moderate viewpoint in the voting population.
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