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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Provide a numerical example which shows that simple-majority voting may be consistent with efficiency. Next, provide a numerical example which shows that simple-majority voting may be inconsistent with efficiency.

To determine

Calculate simple majority voting with consistent and inconsistent efficiency.

Explanation

The table shows MPB (Marginal Private Benefit) of three people in each unit of good X.

PersonMPB of first unit of X (in dollars)MPB of second unit of X (in dollars)MPB of third unit of X (in dollars)
A504020
B30205
C15105

For example, MSB (Marginal Social Benefit) is $70...

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