Voters' Ordered PreferencesAbbyBobCarloPublic parksPublic zooPublic transportationPublic zooPublic transportationPublic parksPublic transportationPublic parksPublic zooIf a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming public zoo and transportation was the first pair to be voted on, which voter will be happiest with the outcome?
A. Abby
B. Carlo
C. Abby and Bob will be equally happy.
D. Bob
Answer: A
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Indicate whether the statement is true or false
The existence of a kinked demand curve under oligopoly conditions may result in
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The term "surplus" refers to a:
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a. true b. false