List and describe two issues regarding incentives and information ...

[Tazate]

List and describe two issues regarding incentives and information that explain why the median voter model might not accurately describe democratic decision-making.
 
  What will be an ideal response?

Question 2

The reasons why a competitive firm's short-run supply curve is upward sloping are
 
  A) the law of diminishing marginal returns and profit maximization.
  B) constant returns to scale and profit maximization.
  C) decreasing returns to scale and profit maximization.
  D) Both B and C.

[Pariscourtney]

Answer to Question 1

Rational ignorance and special interests are two of the primary reasons why the median voter model might not accurately describe the results of democratic decision-making. Rational ignorance occurs because one vote has almost no incentive to change the outcome of an election so voters have little incentive to collect information to cast an informed vote or even to vote at all. Special interests occur when smaller groups have an incentive to become informed about political programs that provide them with concentrated benefits.

Answer to Question 2

A

[Tazate]

Thanks for the timely response, appreciate it

[Viet Thy]

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