Write a Voter Profile for the Voting Situation $\text { Write a voter profile for these ballots. }$

question 59

Multiple Choice

Write a voter profile for the voting situation.
-Eight voters are asked to rank 3 brands of automobiles: A, B, and C. The eight voters turn in the following ballots showing their preferences in order: $\begin{array}{l|llllllll}\text { Voter } & \# 1 & \# 2 & \# 3 & \# 4 & \# 5 & \# 6 & \# 7 & \# 8 \\\hline \text { 1st place } & \mathrm{C} & \mathrm{B} & \mathrm{A} & \mathrm{A} & \mathrm{C} & \mathrm{B} & \mathrm{B} & \mathrm{A} \\\hline \text { 2nd place } & \mathrm{B} & \mathrm{C} & \mathrm{B} & \mathrm{B} & \mathrm{B} & \mathrm{C} & \mathrm{A} & \mathrm{B} \\\hline \text { 3rd place } & \mathrm{A} & \mathrm{A} & \mathrm{C} & \mathrm{C} & \mathrm{A} & \mathrm{A} & \mathrm{C} & \mathrm{C}\end{array}$
$\text { Write a voter profile for these ballots. }$

• A)
• \(\begin{array}{c|l}
• \text { Number of Voters } & \text { Ranking } \\
• \hline 3 & \mathrm{~A}>\mathrm{B}>\mathrm{C} \\
• 2 & \mathrm{~B}>\mathrm{A}>\mathrm{C} \\
• 1 & \mathrm{~B}>\mathrm{C}>\mathrm{A} \\
• 2 & \mathrm{C}>\mathrm{A}>\mathrm{B}
• \end{array}\)
• B)
• \(\begin{array}{c|l}
• \text { Number of Voters } & \text { Ranking } \\
• \hline 3 & \mathrm{~A}>\mathrm{B}>\mathrm{C} \\
• 2 & \mathrm{~B}>\mathrm{A}>\mathrm{C} \\
• 1 & \mathrm{~B}>\mathrm{C}>\mathrm{A} \\
• 2 & \mathrm{C}>\mathrm{B}>\mathrm{A}
• \end{array}\)
• C)
• \(\begin{array}{c|l}
• \text { Number of Voters } & \text { Ranking } \\
• \hline 3 & \mathrm{~A}>\mathrm{B}>\mathrm{C} \\
• 1 & \mathrm{~B}>\mathrm{A}>\mathrm{C} \\
• 2 & \mathrm{~B}>\mathrm{C}>\mathrm{A} \\
• 2 & \mathrm{C}>\mathrm{A}>\mathrm{B}
• \end{array}\)
• D)
• \(\begin{array}{c|l}
• \text { Number of Voters } & \text { Ranking } \\
• \hline 3 & \mathrm{~A}>\mathrm{B}>\mathrm{C} \\
• 1 & \mathrm{~B}>\mathrm{A}>\mathrm{C} \\
• 2 & \mathrm{~B}>\mathrm{C}>\mathrm{A} \\
• 2 & \mathrm{C}>\mathrm{B}>\mathrm{A}
• \end{array}\)

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Definitions:

Total Revenue

The total receipts from sales of goods and services to customers; it is the unit price times the quantity of goods or services sold.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level.

Price Elasticity

A metric evaluating the sensitivity of the amount of a good purchased to price fluctuations.

Demand Curve

A graph showing the relationship between the price of a product and the quantity of the product that consumers are willing to purchase.