Solved: Suppose that -30 percent of the voters want to spend 10000, Microeconomics

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Suppose that -30 percent of the voters want to spend 10000

Question: Suppose that -30 percent of the voters want to spend $10,000 on a new park, 30 percent want to spend $11,000, and 40 percent wish to spend $25,000. How much" does the average voter want to spend? How much does the median voter want to spend? If each voter chooses the point closest to his most preferred choice, what will be the final choice among these three choices of a majority rule? Does the Condorcet paradox arise?

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Microeconomics: Suppose that -30 percent of the voters want to spend 10000

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Microeconomics: Suppose that -30 percent of the voters want to spend 10000

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