You are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product Xupon (1) the demand (D) for, or supply (S) of, X, (2) the equilibrium price (P) of X and (3) the equilibrium quantity (Q) of X.Refer to the above.A decrease in the number of consumers of product X will:

Question

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If the number of consumers of product X decreases, this will lead to a decrease in demand (D) for X. This will result in a decrease in the equilibrium price (P) of X and a decrease in the equilibrium quantity (Q) of X, as suppliers will respond to the lower demand by producing less of the product. So, decrease D, decrease P, and decrease Q.

You Are Asked to Determine, Other Things Equal, the Effects