Explain the Median Voter Theorem
What will be an ideal response?
Suppose voters are arranged along a distribution according to their preferences. The voter in the middle of this distribution, meaning that he or she has equal numbers of voters to his left and right, is called the median voter. The Median Voter Theorem states that, when preferences are single peaked, the political bliss point of the median voter will receive a majority of votes against any other alternative policy. This implies that there cannot be a Condorcet Paradox because the political bliss point of the median voter beats any other alternative.
A-head: CONFLICT OF INTEREST AND POLITICAL ECONOMY
Concept: The Median Voter Theorem
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A. third worker. B. fifth worker. C. fourth worker. D. second worker.
How do you interpret the value of cross-price elasticity?
What will be an ideal response?