The market for Good A is in equilibrium

Economics Oct 14, 2020

The market for Good A is in equilibrium. If there is a decrease in the price of an input used to produce Good A, the impact on the market for Good A will be
[1] a decrease in equilibrium price but no change in equilibrium quantity.
[2] a decrease in equilibrium price and a decrease in equilibrium quantity.
[3] a decrease in equilibrium price and an increase in equilibrium quantity.
[4] no change in equilibrium price but an increase in equilibrium quantity.