Which of the following is true under pairwise majority rule if people vote for the outcome closest to their most preferred outcome ?
Correct answer: C. The outcome preferred by the median voter wins
- A. The average preferred outcome wins
- B. There is no clear winner due to Arrow's Impossibility Theorem.
- C. The outcome preferred by the median voter wins
- D. The outcome preferred by the greatest number of voters wins.
Explanation
With single-peaked preferences, pairwise majority voting selects the median voter's preferred outcome: it defeats alternatives on either side in head-to-head comparisons. The average or most frequently preferred outcome need not win.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,742 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Microeconomics questions
In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?
Jamil's friend dies of a sudden heart attack. Jamil rushes to his doctor for an expensive physical examination. This response demonstrates that ?
Which of the following is a response to People's inconsistent behavior over time ?
hich of the following is not a property required of a perfect voting system ?
Which of the following is not a method firms use to avoid the moral hazard problem in the employment relationship ?
Which of the following is an example of a signal that is used to reveal private information ?