Consider a society with three people (Atakan, Feyza and Nedim) who is trying to decide how much money to spend on schools. There are three options for spending on schools: H (High), M (Medium) or L (Low). These individuals rank the three options in the following way: Rank Atakan Feyza Nedim1st Choice M L H2nd Choice L H M3rd Choice H M L Question -Would majority voting bring about a decision on how much to spend on schools? Explain why.

Voting: It refers to the choice of the people where people select various items what to buy or what…

Answered: Consider a society with three people…

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 7PA

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Consider a society with three people (Atakan, Feyza and Nedim) who is trying to decide how much money to spend on schools. There are three options for spending on schools: H (High), M (Medium) or L (Low). These individuals rank the three options in the following way:

Rank Atakan Feyza Nedim

1^st Choice M L H

2^nd Choice L H M

3^rd Choice H M L

Question -Would majority voting bring about a decision on how much to spend on schools? Explain why.

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