Author Question: Suppose 1 billion is available in the budget and Congress is considering allocating the funds to one ... (Read 76 times)

kwoodring · **on:** Jun 29, 2018

Suppose 1 billion is available in the budget and Congress is considering allocating the funds to one of the following three alternatives:

a. subsidies for education
b. research on Alzheimer's
c. increased border security

If voters prefer a to b and b to c, then if preferences are transitive
A) they should prefer c to a.
B) they should prefer a to c.
C) they should be indifferent between a and c.
D) it is not always possible to rank voters' preferences between a and c.

Question 2

Which of the following is true for a monopolist?

A) Being the only seller in the market, the monopolist faces the market demand curve.
B) Being the only seller in the market, the monopolist faces a perfectly elastic demand curve.
C) Being the only seller in the market, the monopolist faces a downward-sloping demand curve that lies below the marginal revenue curve.
D) Being the only seller in the market, the monopolist faces a perfectly inelastic demand curve.

Meganchabluk · **Reply #1 on:** Jun 29, 2018

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