quanity dumand 2. Determine the effect upon equilibrium price and quantity sold if the following events occur in a particular market: Fill in the blanks with increase, decr indeterminate. ease, unchanged, or a. The price of a substitute good (in consumption) decreases. oundhangdp deccease QOOXCIK P Consumers' income increases and the good is inferior. c Govenment regulators decide to outlaw a cost reducing technological process in order to protect the environment. decrease p exease d. The price of a complement good (in production) increases. Qdeareo e. The price of inputs used to produce the good decrease lincase Pdecrea f. Consumers expect that the price of the good will fall in the future. QincreaSepleceases s. It is widely publicized that the good is helpful in preventing cancer. olncKoR pPincreos h. The price of a substitute good (in production) decreases. ed pderease Now suppose that a pair of the events above occur simultaneously. For each of the pairs of events indicated below, draw a supply/demand diagram, and use it to predict the direction of change in either the equilibrium price or the equilibrium quantity. Explain why the change in one of these two variables is indeterminate. a. Both a and h occur simultaneously. Q b. Both b and e occur simultaneously.Q C. Both dand g occur simultaneously. d. Both fand c occur simultaneously P