1. If the price of a good decreases and nothing else in the economic environment changes, what will happen to the quantity demanded? a. The most likely result is that the quantity demanded will increase. b. In rare situations where the income elasticity of demand is negative and large relative to the Hicks substitution effect price elasticity of demand the quantity demanded may decrease. c. In the rare circumstance that the good is a Gifn good, the quantity de- manded will decrease. d. All of the above 9. None of the above