Business, 30.07.2020 04:01 gabestrickland2
Voters are making a choice to spend money on three projects: a dam, a school, or a road. In the choice between the dam and the school, the majority favors the school. In a choice between a dam and a road, the majority favors a dam. In a choice between a road and a school, the majority favors a road. These rankings indicate that majority voting may:
a. Result in economically efficient outcomes because of rent-seeking behavior
b. Reflect irrational preferences
c. Produce inconsistent choices
d. Lead to consistent choices in spite of irrational community preferences
Answers: 1
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Voters are making a choice to spend money on three projects: a dam, a school, or a road. In the choi...
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