This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain in basic terms what the voting paradox is all about. What will be an ideal ... (Read 96 times)

Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
on: Jun 29, 2018
Explain in basic terms what the voting paradox is all about.
 
  What will be an ideal response?

Question 2

Economists are often concerned with the free-rider problem.
 
  a. What is meant by free riding? Explain with an example.
  b. Are public parks subject to the free-rider problem? What about keeping city streets clean? Explain your answer.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

poopface

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 29, 2018
Answer to Question 1

It is a simple demonstration of how majority voting can lead to seemingly contradictory and inconsistent results.

Answer to Question 2

a. A free rider is a person who receives the benefit of a good but avoids paying for it. People tend to pursue their own private interests and usually don't contribute voluntarily to the public interest. For example, watching a pirated copy of a movie is cheaper than buying one. Those who watch the pirated version are essentially free riders because there are others who buy the movie or pay for movie tickets. If everyone watched pirated copies, making movies would not be profitable and the industry would not function.
b. Cleaning of city streets may be subject to free riding. Suppose the streets are cleaned every day at a fixed cost. This cost is borne by those who pay taxes to the city government. However, they cannot prevent others who do not pay taxes from using the clean streets. This leads to the free rider problem. Public parks, however, can avoid the free rider problem by setting an entrance fee. This means that only those who pay toward the maintenance and upkeep of the park will be able to use it.


Davideckstein7

  • Member
  • Posts: 555
Reply 2 on: Jun 29, 2018
Wow, this really help

daiying98

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Structure and basic function of a typical vertebrate neuron and associated glial cells. Structure and basic function of a typical vertebrate neuron and associated glial cells.
Basic overview of energy and human life. Basic overview of energy and human life.
Effect of pH on drug absorption: (a) a weak acid such as aspirin (ASA) is in a nonionized form in an Effect of pH on drug absorption: (a) a weak acid such as aspirin (ASA) is in a nonionized form in an
One way to think about the different phases or stages of adulthood is in terms of the relative ... One way to think about the different phases or stages of adulthood is in terms of the relative ...
The basic structure of the IL-2 receptor. The basic structure of the IL-2 receptor.
Basic Marketing Research: Using Microsoft Excel Data Analysis Basic Marketing Research: Using Microsoft Excel Data Analysis
Video: Coaductile pathway, Timing of contraction signal & Conduction system and ECG

For a complete list of videos, visit our video library