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6)Consider the following voting problem: there are 3 alternatives A, B, and C. There are 3...

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Economics

6)Consider the following voting problem: there are 3alternatives A, B, and C. There are 3 voters whose preferences areas follows:
Voter 1: A > B > C
Voter 2: B > C > A
Voter 3: C > A > B
The voting procedure is as follows: first A competes with Band then the winner competes with C.
If voters are strategic what is the voting outcome? Who willeach voter vote for in the first stage?

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4.3 Ratings (720 Votes)
According to the consumer preference theory the subjective taste of a consumer is based on the amount of satisfaction they derive from a commodity so if a consumer has three comodities A B and C and they prefer A over B and B over C theyll rationally    See Answer
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