An increase in the demand for LED light bulbs due to changes in consumer tastes, accompanied by an increase in the supply of LED light bulbs as a result of government subsidies, will result in
- an increase in the equilibrium quantity of LED light bulbs and no change in the equilibrium price.
- an increase in the equilibrium price of LED light bulbs and no change in the equilibrium quantity.
- an increase in the equilibrium price of LED light bulbs; the equilibrium quantity may increase or decrease.
- an increase in the equilibrium quantity of LED light bulbs; the equilibrium price may increase or decrease.