When applied to committees, the median voter model concludes that _____
a. becomes irrelevant as committees will be unable to select a clear outcome
b. the committee selects the outcome preferred by the median voter
c. when preferences are double peaked, the committee meets the demand of the median voter
d. a cyclical majority will emerge, if voters are irrational
b
Economics
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A) menu costs. B) increasing profits. C) inflationary suffrage. D) the cost of doing business.
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Assume that you have data on a firm's average fixed cost and average variable cost for various levels of output and you are asked to calculate the total variable cost and total cost of the firm
Would this be enough information to perform this calculation? Explain
Economics