uestion 26 (4 points) Suppose that the demand and supply functions for good x are given as follows: Of = 600 -2P, - I + P, and Of = Px - 2t+ 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 demand and supply of x as price of y falls? Demand shifts to the right while supply stays the same. No change in Demand supply. Demand shifts to the left while supply stays the same. Both supply and demand shift to the left. Page 26 of 26