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MrGrimey MrGrimey
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7 years ago
Suppose three neighbors must vote on the installation of a traffic light that costs $210. The cost of the light will be shared by all three. Voter A values the light at $50; voter B values the light at $50; and voter C (who drives the most) values the light at $200. If the voting rule is that the majority wins, does the light get purchased? Is it efficient to purchase the light?
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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forrestforrest
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7 years ago
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