The conclusion of the median voter model is that_____.
a. private sector demands of the median voter influences their demand for public goods
b. the median voter is omniscient
c. public sector demand will be the demand of the median voter
d. decision-making costs will be high if the median voter is rationally ignorant
Question 2
As opposed to general equilibrium analysis, partial equilibrium analysis looks
A) at an equilibrium and changes to it in a single, isolated market.
B) at how changes in all other markets effect a particular market.
C) at how equilibrium is determined in all markets simultaneously.
D) at either price or quantity movements.
