As the price of home heating oil rises, families buy less home heating oil. Hence a scatter diagram with the price of home heating oil on the vertical axis and the quantity purchased on the horizontal axis reveals a ________ relationshi

The idea that there is no voting system that can consistently make a fair choice among three or more candidates is a conclusion of

A) Arrow's impossibility theorem. B) the Condorcet paradox. C) the Voting Rights Act of 1965. D) the median voter theorem.

A new hormone will increase the amount of milk each cow produces. If this hormone is adopted by many dairies, what will be the effect on the milk market?

a. an increase in supply, higher equilibrium price, and lower equilibrium quantity b. a decrease in supply, lower equilibrium price, and lower equilibrium quantity c. an increase in supply, lower equilibrium price, and higher equilibrium quantity d. an increase in supply, higher equilibrium price, and higher equilibrium quantity e. a decrease in supply, lower equilibrium price, and higher equilibrium quantity