Question

please answer all questions
18. We mentioned that the median voter theorem doesn't always work, and sometimes a winning policy doesn't exist. This fact has driven economists and political scientists to write thousands of papers and books, both proving that fact and also trying to find good workarounds. The most famous theoretical example of how voting doesn't work is the Condorcet paradox. The Marquis de Condorcet, a French nobleman in the 1700s, wondered what would happen if three voters had preferences like those below. Three friends are holding a vote to see which French economist they should read in their study group. Here are their preferences: Jean Marie Claude Walras Say 1st choice 2nd choice 3rd choice Bastiat Say Bastiat Walras Say Walras Bastiat Suppose the friends decide to vote in a single-elimination tournament. In the first round, the friends will choose between two candidates, with the winner proceeding to the second round to face off against the third candidate. (This is the way many sporting events and legislatures work.) Now, suppose that Claude is in charge of deciding in which order to hold the votes. He wants to make sure that his favorite, Say, wins the final vote. Which two candidates should he choose to face off in the first round to ensure that Say wins the tournament? Walras vs. Say Any of the above would result in a win for Say. Walras vs. Bastiat Say vs. Bastiat

Answer 1

18 C

Initially Walras and bastiat must face off each other.

Because when they face each other, walras would win.. because he wins in 2 cases.

Finally when there is a face off between walras and say, ultimately say would win as winning in 2 cases .

19 C

Walras vs say.

To make win bastiat, we havr to initially make face off walras and say, so that say would win.

And then finally, there would be face off between say and bastiat.

And say would win.

20 D

Only statement 2 is true.

Newspapers are also important in providing the news.

Democracies have strong incentive to make economic pie bigger.

Because they work in public interest.