List two economic reasons why representative democracy makes sense

What will be an ideal response?

Representative democracy makes economic sense for two reasons. First, having fewer individuals involved in the decision-making process will lower the costs of making decisions. Second, there are benefits from specialization and having some individuals specialize in politics (or certain political issues) makes economic sense.

Economics

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What financial innovations helped banks to get around the bank branching restrictions of the McFadden Act?

What will be an ideal response?

Economics

A profit-maximizing monopolist operates where demand is: a. inelastic

b. unit elastic. c. elastic. d. infinitely elastic.

Economics