Table 22-3 the Citizens of Paradoxopolis Will Decide Whether to Build a Build

question 106

Multiple Choice

Table 22-3
The citizens of Paradoxopolis will decide whether to build a new school,build a new park,or build a new road.Exactly one of the three choices will prevail,and the choice will be made by way of pairwise voting,with the majority determining the outcome on each vote.The preferences of the voters are summarized in the table below.

-Refer to Table 22-3.Which of the following statements is correct regarding the Condorcet paradox and the results of pairwise voting in Paradoxopolis?

• A) The paradox implies that pairwise voting never produces transitive preferences,and so the voting in Paradoxopolis fails to produce transitive preferences.
• B) The paradox implies that pairwise voting sometimes (but not always)produces transitive preferences,and the voting in Paradoxopolis does produce transitive preferences.
• C) The paradox implies that pairwise voting sometimes (but not always)fails to produce transitive preferences,and the voting in Paradoxopolis fails to produce transitive preferences.
• D) The paradox does not apply to the case at hand,because the preferences of Type 3 voters are not individually transitive.

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Definitions:

Depreciation Expense

The allocated portion of the cost of a tangible fixed asset that is considered used up or consumed during its period of use in business operations.

Overhead Costs

Expenses related to the day-to-day operations of a business that are not directly tied to a specific product or service, such as rent, utilities, and office supplies.

Finished Goods Inventory

The stock of completed products that are ready to be sold but have not been sold yet.

Work In Process Inventory

Components, raw materials, and labor costs associated with partially completed goods during the manufacturing process.