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Ceteris paribus, if the cost of producing motor scooters increases at the same time that motor scooters become more popular to ride around town, then

Ceteris paribus, if the cost of producing motor scooters increases at the same time that motor scooters become more popular to ride around town, then in the market for motor scooters:

  1. equilibrium price decreases and equilibrium quantity increases.
  2. equilibrium quantity increases but there is not enough information to predict the change in equilibrium price.
  3. both the equilibrium price and equilibrium quantity increase.
  4. equilibrium price increases but there is not enough information to predict the change in equilibrium quantity.

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