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

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.An increase in the tastes and preferences for X will:

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

Correct Answer:

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