a) The market for automobile tires after the price of rubber increases. b) The market for a hardcover book in which the publisher overestimated demand, charging more than the equilibrium price. (Instead of a shift, indicate the quantity of the shortage or surplus of the book.) c) The market for a normal consumer good after a significant rise in average income. d) The market for infant cribs after a significant decline in the birth rate. For the following three parts, answer each question completely, directly, and succinctly. e) If the demand for a good decreases, ceteris paribus, what will happen to the equilibrium price

If the demand for a good decreases and all other things are equal then there will be decrease in equilibrium price because there is a direct relationship between demand and equilibrium price. In direct relationship, if one increases the other automatically increases and vice versa so same is the case with demand and equilibrium price. As demand increases the equilibrium price will also increases and vice versa.