A company has three open seats on its board of directors. There will be a single election to determine the winner of all open seats. As the owner of 50,000+(5,000x3) shares of stock, you will receive one vote per share for each open seat. You decide to cast all of your votes for a single candidate.

a. What is this type of voting called? What is the number of votes you can cast?

b. With this type of voting, suppose the company has 1 million+(100,000x3) shares outstanding, how many more shares must you buy to be assured of earning a seat on the board?