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Homework answers / question archive / The market for good X is currently in equilibrium

The market for good X is currently in equilibrium

Marketing

The market for good X is currently in equilibrium.

Which of the following choices would not cause both a decrease in the equilibrium price of good X and a decrease in the equilibrium quantity of good X?

A. A decrease in consumer income and good X is a normal good.

B. An increase in consumer income and good X is an inferior good.

C. An increase in the price of good Y, a complement for good X.

D. A decrease in the price of good Y, a substitute for good X.

E. An increase in the number of consumers in the market for good X.

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The correct option is (E) as with an increase in the number of consumers in the market for Good X would raise the demand for good X and thus the equilibrium quantity. Additionally, the price will also increase.

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