In the Following Question You Are Asked to Determine, Other

question 98

Multiple Choice

In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (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. 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.