Author Question: The Condorcet paradox shows that even if each individual in a group has transitive preferences, the ... (Read 42 times)

Coya19@aol.com · **on:** Jun 29, 2018

The Condorcet paradox shows that even if each individual in a group has transitive preferences, the group's collective preferences may not be transitive.

Indicate whether the statement is true or false

Question 2

The key issue with competition is the role competition plays in eliminating ________ and making the ________ as large as possible.

A) cooperative surplus; profits
B) producer surplus; consumer surplus
C) deadweight losses; cooperative surplus
D) shortages; total revenue