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 price of a product that is a close substitute for X will
increase S, increase P, and increase Q.
decrease D, decrease P, and decrease Q.
O increase D, decrease P, and increase Q.
O decrease S, increase P, and increase Q.