The Results of an Election Are Summarized in the Preference

question 21

Multiple Choice

The results of an election are summarized in the preference table below.
$\begin{array}{l|ccccc}\text { Number of votes } & 8 & 10 & 2 & 4 & 3 \\\hline \text { First choice } & \text { B } & \text { A } & \text { A } & \text { C } & \text { B } \\\text { Second choice } & \text { A } & \text { B } & \text { C } & \text { A } & \text { C } \\\text { Third choice } & \text { C } & \text { C } & \text { D } & \text { B } & \text { A } \\\text { Fourth choice } & \text { D } & \text { D } & \text { B } & \text { D } & \text { D }\end{array}$

Using the plurality-with-elimination method of voting, determine the winner.

• A) A
• B) C
• C) B
• D) D

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Definitions:

Mental Accounting

The tendency of individuals to segregate their money into separate accounts based on subjective criteria, affecting their spending and investment decisions.

Overpriced Warranty

A warranty agreement that is considered excessively costly relative to the coverage or protection it offers.

High-Interest Credit Card Debt

A debt incurred through credit card spending that carries a high rate of interest, often leading to significant financial strain.

Stock Market

A public market for buying and selling company stock and derivatives at an agreed price; it's a key indicator of economic health.