Problem
Determine the effect upon equilibrium price and quantity sold if the following changes occur in a particular market: a. Consumers' income increases and the good is normal. b. The price of a substitute good (in consumption) increases. c. The price of a substitute good (in production) increases d. The price of a complement good (in consumption) increases e. The price of inputs used to produce the good increases. f. Consumers expect that the price of the good will increase in the near future. g. It is widely publicized that consumption of the good is hazardous to health. h. Cost reducing technological change takes place in the industry.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.