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After a hurricane in Florida knocked out the regional water supply for several days, the demand for bottled water increased sharply. In a market economy, how will this increase in demand affect the equilibrium price and quantity of bottled water? 0 Price will decrease, and quantity will increase. 0 Price will increase, and quantity will decrease. 0 Price will increase, and quantity will increase. 0 Price will decrease, and quantity will decrease. How would a decrease in consumer income affect the market for new automobiles? 0 Demand would decrease, leading to an increase in price and a reduction in quantity sold. 0 Demand would increase, leading to an increase in price and an increase in quantity sold. 0 Demand would decrease, leading to a reduction in price and a reduction in quantity sold. 0 Demand would increase, leading to a reduction in price and an increase in quantity sold