If the Median Voter Theorem Holds

question 243

Multiple Choice

If the median voter theorem holds,

• A)a Borda count will violate the principle of transitivity.
• B)the Condorcet paradox also holds.
• C)minority views will not receive much consideration.
• D)All of the above are correct.

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Definitions:

Marginal Cost

The extra cost incurred when one more unit of a product or service is produced.

Profit

The financial gain made in a transaction, calculated as the difference between the revenue earned and the costs incurred.

Drug Patent

Legal protection granted to the inventor of a new pharmaceutical, allowing exclusive rights to manufacture and sell the drug for a certain period.

Marginal Revenue

The additional revenue that a producer receives from selling one more unit of a good or service.