A democratic (majority rule) decision over a multi-dimensional issue can be manipulated by an agenda setter only if voter tastes are not single-peaked.
Answer the following statement true (T) or false (F)
False
Rationale: It can typically be manipulated even if preferences are single peaked (when the issue space is multi-dimensional).
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Suppose the extra cost for a company to advertise for one extra day each week in the local newspaper is $200. Then, the company should advertise on that additional day if it can generate additional revenue of $200 each week
Indicate whether the statement is true or false
A disadvantage of the corporate form of business organization is that corporate income is taxed twice
a. True b. False
In Figure 30.1, the shift in the labor supply curve from S1 to S2 means that
A. The marginal utility of labor relative to leisure has increased. B. The demand for labor has increased, and this encourages more labor force participation. C. The marginal utility of labor has decreased. D. Workers are being paid higher wage rates, given their taste for work.
A student in a managerial economics class calculated the four-firm concentration ratio and HHI for industries A and B. What is the proper conclusion she can draw from the following findings? Industry AIndustry BFour-firm C0.91HHI3,2002,500
A. C4 is higher for industry A while the HHI is higher for industry B. This inconsistency must be due to a calculation error. B. Industry B is a monopoly. C. The market power of firms in industry A is greater than that in industry B. D. Neither industry is perfectly competitive.