Suppose that the demand and supply functions for good x are given as follows: Of = 240-2P, + 1 -P. and O' = -30+ P - 21 +s -2f where Px 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 price and quantity equilibrium of good x as price of y rises? Price equilibrium rises while quantity equilibrium falls. Both equilibrium price and quantity fall. Both equilibrium price and quantity rise. Price equilibrium falls while quantity equilibrium rises