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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.

Correct Answer:

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