Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product

A decrease in the price of VCRs will increase demand for video cassettes

a. True b. False Indicate whether the statement is true or false

A situation in which society may not be able to rank its preferences consistently through paired-choice majority voting is:

A. The fallacy of limited decisions B. The paradox of voting C. The median-voter model D. Political logrolling