1. S & D Warm Up

2. Indicate the effect [increase (+), decrease (–)] on equilibrium price (P) and equilibrium quantity (Q) of each of these changes in demand and/or supply.
Decrease in the price of a substitute
Increase in cost of resources
Decrease in the price of a complement
Decrease in a tax on producers

3. Indicate the [increase (+), decrease (–), or indeterminate (
Indicate the [increase (+), decrease (–), or indeterminate (?)] on equilibrium price (P) and equilibrium quantity (Q) of each of these changes in demand and/or supply.
Increase in demand, increase in supply
Increase in demand, decrease in supply
Decrease in demand, decrease in supply
Decrease in demand, increase in supply