Assume There Are Nine Voters in a Certain Small Town

question 78

Multiple Choice

Assume there are nine voters in a certain small town and let x = the preferred number of dollars spent per person per month on garbage collection. For Voters 1, 2, and 3, x = $10; for Voter 4, x = $15; for Voter 5, x = $18; and for Voters 6, 7, 8 and 9, x = $20. Based on these preferences, which of these dollar amounts will win over any one of the others?

• A)$10.
• B)$15.
• C)$18
• D)$20.

---

Definitions:

Cartel

A coalition of producers or vendors aimed at keeping prices elevated by limiting competitive practices.

Concentration Ratio

Concentration ratio is a measure of the total output produced in an industry by a given number of firms, indicating the level of market competition.

Sales

The activities involved in selling goods or services to consumers or other businesses, generating revenue.

Concentration Ratio

A measure of the total output produced in an industry by a given number of firms, used to assess the level of market concentration and competition.