Question: 1. Suppose that the demand for Paper Clips increases (i .e., shifts to the right]. Using our standard supply and demand analysis (i.e., supply is

1. Suppose that the demand for Paper Clips increases (i .e., shifts to the right]. Using our standard supply and demand analysis (i.e., supply is upward sloping arid demami is downward sloping, and price adjusts to keep the market in equilibrium), what do you predict will happen to the equilibrium price, PE, and quantity, 3 Q ? a. P6 will decrease, and Q6 will decrease. b. P6 will increase, and Q6 will decrease. c. P6 will decrease, 311d Q6 will increase. d. P6 will increase, and Q6 will increase. e. P6 will decrease, and Q6 will stay the same

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