Table 23 - 2 Suppose a Town Is to Vote on Three Possible Locations

question 106

Multiple Choice

Table 23 - 2
$\begin{array}{|l|l|l|l|}\hline&&\text { Voter Type }\\\hline &\text { Type 1 } & \text { Type 2 } & \text { Type 3 } \\\hline \% \text { of electorate }&35 & 45 & 20 \\\hline 1^{\text {st }} \text { choice }&\text { C } & \text { A } & \text { B } \\\hline 2^{\text {nd }} \text { choice }&\text { A } & \text { B } & \text { C } \\\hline 3^{\mathrm{rd}} \text { choice }&\text { B } & \text { C } & \text { A } \\\hline\end{array}$ Suppose a town is to vote on three possible locations for a new park: A, B, or C.The preferences are in table 23-2.Suppose the mayor decides on the following Borda count voting scheme: For each option, we will give one point for last place, two points for second last, and three points for the third last etc.The outcome with the most points is the winner.
-Refer to the information provided.The winner of this Borda count will be:

• A)option A
• B)option B
• C)option C
• D)a tie between option A and \( B \)

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Definitions:

Profit-maximizing Combination

An optimal mix of inputs or factors of production that results in the highest possible profit for a firm, given the costs and available resources.

Production Costs

Expenses incurred by a business in the process of creating a good or service, including raw materials, labor, and overhead.

Elasticity

The measure of how much the quantity demanded or supplied of a product changes in response to a change in its price.

Resource Demand

The desire and ability of businesses or individuals to acquire resources or inputs required to produce goods and services.