7. If the cost of producing a good rises for sellers, then how will this affect the market equilibrium for that good? a. Price will rise and quantity will fall. b. Price will fall and quantity will rise. c. Price and quantity will both rise. d. Price and quantity will both fall. 8. If goods A and B are complements, and if the price of good B rises, how will this affect the market equilibrium for good A? a. Price will rise and quantity will fall. b. Price will fall and quantity will rise. c. Price and quantity will both rise. d. Price and quantity will both fall. 9. Suppose that Big-Cat and Fat-Cat are rival cat food brands, and the price of Fat-Cat is reduced. Follow- ing this price drop, is there a shortage or a surplus of Big-Cat at the old price of Big-Cat? a. Shortage. b. Surplus. c. Neither, equilibrium exists. d. Neither, a price drop cannot cause a shortage or surplus.