2. A) How will the voters vote for putting a statue in the towns common area using the following dat Tax levied on individuals $1,000 $1,000 $1,000 Dollar benefits to individuals $1,525 $1,315 $505 $845 $1,150 Individuals Milton Maria Jaime Maynard Kenneth $1,000 $1,000 B) Explain using cost/benefit analysis if this is the best outcome for the town. C) Is majority rules voting actually best for society? Use facts to support your answer.
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A) How will the voters vote for putting a statue in the towns common area using the following data?
B) Explain using cost/benefit analysis if this is the best outcome for the town.
C) Is majority rules voting actually best for society? Use facts to support your answer
a.
An individual who gets more benefit from the statue will eager to vote in favor of the statue while those who are getting less benefit will be less willing to vote.
Milton, Maria, and Kenneth are getting more benefits than taxes so they will vote in the favor of statue while Jaime and Maynard will be less willing to vote as dollar benefits are less than the tax for them.
b.
The best social outcome occurs when Marginal benefits equal marginal cost.
Marginal benefit = Marginal cost
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