D Question 7 1 pts The median voter theorem suggests that O politicians will alw

Question

D Question 7 1 pts The median voter theorem suggests that O politicians will always stick to their beliefs and ideals as a means of getting elected O politicians will appeal to all voters all over the spectrum in order to maximize voters O politicians will appeal to the voter closest to the middle on views in order to capture the greatest voter base O politicians will polarize on issues in order to maintain a strong constituency DQuestion 8 1 pts The reason why so few firms exist in an oligopoly type market is O firms are price setters O legal and other barriers to entry reduce firm entry into the industry O cartels reduce the number of competitors O firms have to sell commodities

Explanation / Answer

Answer 7) option c.

The theorem says that the majority rule voting system will select the outcome that is most preferred by the median voter. Thus the politicians will want to lure the median voter to maximize the chances of getting elected.

Question 8) option b)

There exist legal entry barriers & other obstacles like minimum capital requirements, access to distribution channels, product differentiation, government regulation & others in oligopoly that make the new firms reluctant to enter the market ,thus only few large firms comprise the industry.

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