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In the following question you are asked to determine, other things equal, the effects of a given change in determinant of demand or supply for
In the following question you are asked to determine, other things equal, the effects of a given change in 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.
An increase in the number of firms producing X will
A. Increase S, decrease P, and increase Q
B. decrease S, increase P, and decrease Q
C. Increase S, increase P, and Increase Q
D. decrease S, decrease P, and increase Q
E. shift S left with no change in P and Q
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