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Suppose that there are 1,000 voters in your city.A total of 400 are willing to pay up to $25 each for the construction of a park,and the other 600 are willing to pay only $10.The construction of the park will cost $12,000.Someone proposes a vote on whether to tax each citizen $12 in order to finance the park.
(a)What will be the result according to the median voter model? Is this result socially efficient? Explain.
(b)What if instead of being willing to pay up to $25 each,the 400 residents were willing to pay up to $50 each?
Environment
The surrounding external conditions and influences affecting the growth, development, and survival of organisms and ecological systems.
Field-Dependent
A cognitive style in which an individual’s ability to perceive and memorize information is strongly influenced by the surrounding context.
Trichromatic Theory
A theory explaining color vision based on the presence of three types of color receptors in the eye, each sensitive to red, green, or blue.
Color Afterimages
Visual illusions where an image continues to appear in one's vision after exposure to the original image has ceased, typically in complementary colors.
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