Sequential Pairwise Voting Satisfies the Pareto Condition

question 73

True/False

Sequential pairwise voting satisfies the Pareto condition.

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Definitions:

Maximize

To increase to the greatest possible amount or degree.

Minimize

To reduce something to the smallest possible level or amount.

Profits

The financial gains obtained when revenues exceed the costs and expenses incurred to operate the business.

Total Costs

The sum of all costs incurred by a business in producing a certain amount of goods or services.