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Using the traditional supply and demand model, what happens in the market for X, if the price of Y, a substitute for X, goes down,
Using the traditional supply and demand model, what happens in the market for X, if the price of Y, a substitute for X, goes down, and the price of Z, an input used in production of X, increases?
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Equilibrium quantity decreases
Equilibrium quantity is indeterminate
Equilibrium price is indeterminate
Equilibrium quantity increases
Equilibrium price increases
Equilibrium price decreases
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