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

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 reduction in the number of firms producing X will:

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