How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market; that is, do price and quantity increase or decrease, or are the answers indeterminate because they depend on the magnitudes of the shifts?   a. Supply decreases and demand is constant.   Price: Decreases Incorrect   Quantity:  Indeterminate Incorrect   b. Demand decreases and supply is constant.   Price:  Increases Incorrect   Quantity:  Indeterminate Incorrect   c. Supply increases and demand is constant.   Price:  Decreases Correct   Quantity:  Indeterminate Incorrect   d. Demand increases and supply increases.   Price:  Increases Incorrect   Quantity:  Decreases Incorrect   e. Demand increases and supply is constant   Price:  Indeterminate Incorrect   Quantity:  Decreases Incorrect   f. Supply increases and demand decreases.   Price:  Decreases Correct   Quantity:  Increases Incorrect   g. Demand increases and supply decreases.   Price:  Increases Correct   Quantity:  Indeterminate Correct   h. Demand decreases and supply decreases.   Price:  Decreases Incorrect   Quantity:  Increases

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