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In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (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. removing the excise tax on product x will?
1) decrease s, decrease p, increase q
2)decrease s, increase p, increase q
3) increase s, decrease p, increase q
4) increase d, increase p, decrease q
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