Question 2 1 p13 {1 pt) Assume that a product becomes less popular with consumers la demand effect) and that input prices for the product increase [a supply effect}. All else equal. how will this affect the equilibrium price for that product? 0 It will fall. 0 It will rise. 0 It may rise or fall. 0 No change in price. Question 3 1 pts (1 pt} Now staying with the same product {its popularity has decreased and the price of inputs have risen), how will this effect the equilibrium quantity of the product? C) It will fall. 0 It will rise. 0 It may rise or fall. 0 No change in quantity