In his 1951 book, Social Choice and Individual Values, Kenneth Arrow used the term "transitivity" to mean
a. A beats B only if everyone prefers A to B.
b. if everyone prefers A to B, then A beats B.
c. if A beats B and B beats C, then A must beat C.
d. everyone who is eligible to vote must vote; otherwise, the outcome is invalid.
c
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In the figure above, the demand is unit elastic
A) at the point where the price is $3.00 per cup B) at the point where the price is $2.00 per cup C) at the point where the price is $4.00 per cup D) at the point where the price is $2.50 per cup E) at all points along the demand curve
In research, what is the importance of experiments? What is meant by randomization in experiments?
What will be an ideal response?
Which is NOT an example of signaling high quality in a social setting
a. wearing a business suit on a job interview b. scrimping on the tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
Explain the economic rationale for Henry George’s proposal for a single tax on land
What will be an ideal response?