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3. (A) Starting with the majority voting paradox, explain the assumptions Arrow made about voting rules when deriving his famous impossibility theorem. [50 marks] (B)

3. (A) Starting with the majority voting paradox, explain the assumptions Arrow made about voting rules when deriving his famous impossibility theorem. [50 marks]

(B) Evaluate some of the proposed ways of circumventing Arrows theorem. [50 marks]

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