Two events occur in the market for iPhones at the same time: (1) Buyers think the price of iphones will fall in the near future. (2) Sellers think the price of iPhones will rise in the near future. If we don't know which is the dominant effect, then in the market for iPhones O P* will fall while Q' will rise O both P* and Q' will fall O P will rise but the change in Q' is unknown/ambiguous O Q' will fall but the change in P" is unknown/ambiguous