When Considering Voting Options, If Option X Beats Y, and Y

question 28

Multiple Choice

When considering voting options, if option X beats Y, and Y beats Z, then transitivity says that:

• A)Z beats X.
• B)Y beats X.
• C)X beats Z.
• D)Z beats Y.

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Definitions:

Price Elastic

A term possibly intending to describe price elasticity, which measures how much the quantity demanded of a good responds to a change in its price.

Sketchers Go Walk

A line of comfortable walking shoes produced by Skechers, designed to provide a high level of comfort and support for everyday use.

Demand For Shoes

The total amount of shoes that consumers are willing and able to purchase at various prices during a given period.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information, leading to firms being price takers.