You Are Asked to Determine, Other Things Equal, the Effects

question 253

Multiple Choice

You are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product Xupon (1) the demand (D) for, or supply (S) of, X, (2) the equilibrium price (P) of X and (3) the equilibrium quantity (Q) of X.Refer to the above.A decrease in the number of consumers of product X will:

• A)decrease S, decrease P, and decrease Q.
• B)increase D, increase P, and increase Q.
• C)decrease D, decrease P, and decrease Q.
• D)decrease D, decrease P, and increase Q.

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Definitions:

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