Bond markets allow firms to pursue

In the short run, a firm should shut down its operation if:

a. its losses are less than TFC at the MR = MC point. b. its losses equal TFC at the MR = MC point. c. its losses are greater than TFC at the MR = MC point. d. TR is less than TC. e. TR exceeds TVC.

Explain the paradox of voting that is illustrated in the table below in choices between the same expenditure on three different public goods. The numbers under each name indicate the voting preferences (first, second, or third choice) of each of the

three citizens in the society.