In the Following Question You Are Asked to Determine, Other

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. An increase in the price of a product that is a close substitute for X will

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