Suppose that the demand and supply functions for good x are given as follows: Q. =120-2P + / + P and Of =-30+P. -21+s -2f where Py denotes the price of good x, P. denotes the price of a related product y. I denotes income, t denotes tax firms face, s denotes subsidy and f denotes factor prices What happens to the supply of x as price of x rises? O Supply of x rises since law of supply holds Supply of x stays the same but quantity supplied rises. Supply of x stays the same but quantity supplied falls. Supply of x falls since law of supply holds