December 17, 2014

Homework Help: Econ MC

Posted by Anonymous on Tuesday, March 20, 2007 at 6:52pm.

1. According to the median voter theorem, majority rule will
a. always produce an inconclusive outcome.
b. produce the outcome least preferred by the median voter.
c. produce the outcome most preferred by the median voter.
d. produce an outcome that is inconsistent with transitive preferences.
-I am not sure how the median voter relate to the majority rule, and also is it also related to the average outcome?

2. The median voter's preferred outcome is the same as the
a. average preferred outcome.
b. outcome preferred by the greatest number of voters.
c. outcome produced by majority rule. d. All of the above are correct.
-I believe the answer is c?

Under the median voter theorem (and its important underlying assumptions), the median voter will always be in the majority.

I am bothered by the answers under 1) Under the median voter therom, the outcome will be preferred by the median voter, compared to the alternative possible outcome. However, it wont necessarily be the MOST PREFERRED outcome by the median voter. (Perhaps this is a problem of semantics. go with c)

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