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 rise, fall, or remain unchanged, or are the answers indeterminate because they depend on the magnitudes of the shifts? Use supply and demand to verify your answers.

LO4

a. Supply decreases and demand is constant.

b. Demand decreases and supply is constant.

c. Supply increases and demand is constant.

d. Demand incer ases and supply inecarses.

e. Demand increases and supply is constant.

f. Supply incerases and demand deeacser s.

g. Demand incer ases and supply deecarses.

h. Demand decerases and supply deecarses.