Which of the Following Is Used to Argue That the Self-Interest

question 23

Multiple Choice

Which of the following is used to argue that the self-interest of public policymakers will often lead to actions that are inconsistent with the preferences of the voters they represent?

• A)the voting paradox
• B)the median voter theorem
• C)rent seeking
• D)transitivity of voters' preferences

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Definitions:

Marginal Utility

The increase in satisfaction or advantage a buyer experiences from acquiring one more unit of a good or service.

Utility Maximization

A theory in economics asserting that individuals aim to achieve the highest level of satisfaction or utility through their choices, given their resources.

Limited Budget

A financial constraint that limits the amount of money available for spending or investing.

Marginal Utilities

refers to the additional satisfaction or utility gained by consuming one more unit of a good or service.