​Suppose There Are 3 Possible Outcomes to a Vote: A

question 355

Multiple Choice

​Suppose there are 3 possible outcomes to a vote: A, B, and C. If voters prefer A to B, C to B, and A to C, which of the following concepts are violated?

• A)​Transitivity
• B)​Median Voter Theorem
• C)​Arrow's Impossibility Theorem
• D)​None of the above concepts are violated

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Definitions:

Malpractice Insurance

A type of professional liability insurance that provides coverage to healthcare professionals for claims arising from allegations of medical errors or negligence.

Existing Risk

Refers to the current risks involved in a situation or transaction, especially those that have already been identified or assessed.

Valid Contract

A legally binding agreement that meets all required elements, including offer, acceptance, consideration, and mutual consent.

Losses

The negative financial impact resulting from the difference between costs and revenues, often attributed to business operations, investments, or unforeseen events.