7. Which of the following would likely cause the change in the graph below. a. Increase in the price of a substitute b. Decrease in the price of a substitute C. Increase in Income. d. None of the above. 8. What effect would an increase in demand (positive shift) have on equilibrium? P a. Higher Price, Higher Quantity b. Higher Price, Decreased Quantity C. Lower Price, Decreased Quantity d. Lower Price, Higher Quantity