The median-voter model attempts to explain
a. why law partners can seldom agree on the division of costs
b. why, in a democracy, the preferences of the typical voter often will dominate other choices
c. why democracies can evolve into dictatorships
d. elections in which candidates present widely different platforms
e. conditions under which majority rule is better than market exchange
B
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If expected future income increases, then
A) the supply of loanable funds increases. B) the quantity of loanable funds supplied decreases. C) the supply of loanable funds decreases. D) the demand for loanable funds decreases. E) the quantity of loanable funds demanded increases.
Which of the following costs can be positive when output is zero?
A) average variable cost B) total variable cost C) marginal cost D) total fixed cost E) None of the above because when output is zero there are no costs.