For each event below, explain if demand or supply would shift and in what direction. What would the effect be on equilibrium price and quantity?
A. The price of a substitute good (in consumption) decreases.
B. Consumers\' income increases and the good is inferior.
C. Government regulators decide to outlaw a cost-reducing technological process in order to protect the environment.
D. The price of a complement good (in production) increases.

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Answer A At the point when the cost of a substitute decent falls its interest asc... View the full answer