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 complement to X will

decrease D, decrease P, and decrease Q.

Explanation:

The law of demand gives a negative relationship between price and quantity.

Other than price, other factors affect the demand curve. Tastes and preferences, increase in price of substitute goods e.tc

Law of supply has positive relationship between supply and demand.

We have a product called x and now an increase in price of a complement good of x. This price increase in the complement good would cause demand the for x to fall. There would be no change in supply, so equilibrium price and equilibrium quantity will fall too.

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