The Reason Why, Under Majority Voting and Consistent Voter Preferences

question 132

Multiple Choice

The reason why, under majority voting and consistent voter preferences, the median voter's choice will tend to predominate is because

• A) the median voter has the strongest preferences compared to the other voters.
• B) most voters strongly prefer the median view.
• C) extreme voters on either side of the median would prefer the median over the opposite extreme.
• D) voters' preferences are bell-shaped, with most of them falling on the median.

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Definitions:

FIFO Method

A method of inventory valuation where goods are sold or used in the same order in which they are acquired, with the oldest inventory items being recorded as sold first.

Conversion Costs

Expenses incurred in converting raw materials into finished products, typically including labor and overhead.

Weighted-Average Method

An inventory costing method that assigns a weighted average cost to each unit of inventory on hand based on the cost of goods available for sale and the units available for sale.

FIFO Method

First-In, First-Out; an inventory valuation method where the oldest inventory items are recorded as sold first.