Assume in a simple example that two changes occur simultaneously in an economy which produces

"Good X". The first change that occurs is an

increase in technology

used to produce "Good X". The

second change that occurs is an

increase

in the price of complementary good in consumption (a

complement good to "Good X".) Assume that this is a competitive market, what will happen to the

equilibrium price and quantity of "Good X"? Use supply and demand analysis to demonstrate your

answer and be sure to provide the rationale behind what is happening and also discuss any interesting

observations or outcomes.