Options are: Decrease, increase, have an ambiguous change, not change.

10 points Save Answer Suppose that the market for canola oil (same as vegetable oil) is currently in equilibrium. The supply of canola oil is described by the equation: Qs - - 100 + 20P, where P is the price per gallon, and Q is the quantity per day. The demand for canola oil is described by the equation: Qp - 760 - 15P - 0.4M, where M is the median daily spending income and currently it is $120. (NOT FOR SALE . DO NOT COPY) (Question 5 of 9) (NOT FOR SALE . DO NOT COPY) Now consider that the price of protein feed (a complement in production) increases, and at the same time, the median daily spending income increases. The market is in equilibrium after these events. (NOT FOR SALE . DO NOT COPY) In general, what is the expected market outcome from these two events? In general, one would expect, demand will supply will the equilibrium price will and the equilibrium quantity will v . Furthermore, one would expect the total revenue for the sellers in the market to