Asked by
Rishi Nayer
on Oct 08, 2024
Verified
Suppose that friends Jennifer,Stephanie,and Megan cannot agree on how much to spend for a bouquet of flowers to send to a person that allowed them to use their beach house for the weekend.Jennifer wants to buy a moderately priced bouquet,Stephanie wants to buy an expensive bouquet,and Megan wants to buy a very expensive bouquet.Assuming no paradox of voting,majority voting will result in the decision to buy:
A) an inexpensive bouquet.
B) a very expensive bouquet.
C) a moderately priced bouquet.
D) an expensive bouquet.
Majority Voting
A voting system where decisions are made based on the preference of more than half of the votes cast, commonly used in elections and organizational decision-making.
Moderately Priced Bouquet
A flower arrangement that is priced at a level considered reasonable or average, not too expensive or too cheap.
Expensive Bouquet
Refers to a collection of flowers that has a high price, often due to its quality, rarity, or the occasion it is meant for.
- Explore the contribution of majority voting to the process of economic decision-making and its potential for causing less-than-optimal effects.
Verified Answer
VT
Learning Objectives
- Explore the contribution of majority voting to the process of economic decision-making and its potential for causing less-than-optimal effects.