Suppose that the demand and supply functions for good x are given as follows: Of = 600 -2P, - 1 + P, and Q = P -2t+s -2f where Pr 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 Income falls? O Both equilibrium price and quantity fall. O Price equilibrium rises while quantity equilibrium falls. O Price equilibrium falls while quantity equilibrium rises. Both equilibrium price and quantity rise