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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Anastasia, Emma, and Greta are deciding what to do on a weekend getaway. They each suggest a first, second, and third choice and then vote on the options. Table 18.2 shows their first, second, and third choice preferences. Explain why they will have a hard time teaching a decision. Does the group prefer mountain biking to canoeing? What about canoeing compared to the beach? What about the beach compared to the original choice of mountain biking?

Chapter 18, Problem 6SCQ, Anastasia, Emma, and Greta are deciding what to do on a weekend getaway. They each suggest a first,

To determine

The reason for the difficulty to take decision on a majority-approved choice is to be determined.

Explanation

The voting cycle refers to the scenario in which there are at least three alternates or choices are present. This means mountain biking has more votes in majority in comparison to canoeing, canoeing has more votes in majority in comparison to beach, and beach has more votes in majority in comparison to mountain biking. This scenario makes determination difficult for the majority approval.

If the group has to choice between mountain biking and canoeing then the group will prefer mountain biking as mountain biking wins by 21

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