Voters Will Gather Information on Voting Alternatives

question 25

Multiple Choice

Voters will gather information on voting alternatives:

• A)​when the cost of acquiring such information is exorbitantly high.
• B)​as long as the marginal benefit to them of acquiring additional information exceeds the marginal cost to them.
• C)​as long as the marginal benefit to them of the information is less than the marginal cost to them of gathering the information.
• D)​because the welfare of the community is always perceived to be more important than the welfare of the individual.

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Definitions:

Inventory

All products and materials that a company holds, aimed at either resale or being incorporated into manufacturing processes.

FOB Shipping Point

A term of sale indicating that the buyer assumes responsibility for shipping costs and risk of loss once the seller has delivered the goods to the shipping carrier.

Sales Discount

A reduction in the price of a product or service offered to customers, typically to prompt early payment or bulk purchases.

Cash Returns

Financial returns or profits that are received in the form of cash, as opposed to stock dividends or other non-liquid forms of return.