If a pair-wise majority vote was held, the voters' preferences are shown in the table, and Abby is setting the agenda for votes, which pair will she put up for vote first?
A. Public zoo and public parks
B. Public transportation and public zoo
C. Public parks and transportation
D. It will not matter, as it will not affect the outcome of the voting.
B. Public transportation and public zoo
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An important assumption made when constructing a demand curve is that
A. only price and quantity matter in determining the demand for a good. B. people always want a certain amount of the good. C. demand is always dependent on the supply of a good. D. all other determinants of demand are held constant. E. the demand curve has a positive slope.
A person's consumption possibilities is defined by the budget line because
A) it marks the boundary between what is affordable and unaffordable. B) it represents the individual's preference for different combinations of goods. C) it marks the boundary between what can be produced and what is unattainable given the current state of technology and resources. D) all consumers must consume on their budget line.
Along a perfectly elastic demand curve,
A. the slope is always zero. B. the price elasticity of demand is 1. C. consumer purchases will not respond at all to a change in price. D. All of the responses are correct..
Refer to the production function. The marginal product at 5 units equals ________ units
Fill in the blank(s) with correct word