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How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market; that is, do price and quantity increase or decrease, or are the answers indeterminate because they depend on the magnitudes of the shifts? a. supply decreases and demand is constant. price: quantity: b. demand decreases and supply is constant. price: quantity: c. supply increases and demand is constant. price: quantity: d. demand increases and supply increases. price: quantity: e. demand increases and supply is constant price: quantity: f. supply increases and demand decreases. price: quantity: g. demand increases and supply decreases. price: quantity: h. demand decreases and supply decreases. price: quantity:

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How will each of the following changes in demand and/or supply affect equilibrium price and equilibr...

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