Suppose Three Neighbors Must Vote on the Installation of a Traffic

question 104

Essay

Suppose three neighbors must vote on the installation of a traffic light that costs $210.The cost of the light will be shared by all three.Voter A values the light at $50;voter B values the light at $50;and voter C (who drives the most)values the light at $200.If the voting rule is that the majority wins,does the light get purchased? Is it efficient to purchase the light?

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Definitions:

Mixed-Line Merchandising

A retail strategy that involves offering a wide variety of unrelated products in a single store to attract diverse customers.

Dysfunctional Competition

A scenario where businesses engage in harmful practices that impede fair marketplace operations, often leading to reduced consumer choice and innovation.

Specialty Clothing Store

A retail establishment that focuses on selling specific categories or brands of clothing and accessories, catering to niche markets.

Limited-Line Gift Store

A retail store that specializes in selling gifts but offers a limited range of product types, focusing on specific niches.