For each of the following situations the individuals will be in favor of anything that gives them a positive net benefit. consider which (if any) of the projects that will be approved if (i) there is simple majority voting and (ii) people can get together and make credible and binding agreements about trading votes, but cannot make monetary transfers. it each case, discuss whether the outome is the right outcome for the economy: (

Match each definition in column 1 with a vocabulary word from column 2." some of the entries in column 2 do not apply costs which do not change with the level of output costs which change with the level of output the change in total costs resulting from an increase in output by one unit function showing the quantities of a particular good demanded at a range of price when the quantity supplied of a good is greater than the quantity demanded when the quantity demanded for a particular good is greater than the quantity supplied the price and quantity determined in a market when the supply equals the demand when revenue exceeds costs when costs exceeds revenue output where revenue = costs