ECONOMIC QUESTION help please prettyyy pleasee ??/?

Question

A fall in labour costs lowers the cost of producing steel. At the same time, preferences for steel decrease. The quantity traded of steel will:

a= Rise

b= Fall

c= Remain the same

d= Rise or Fall depending on whether the price of coffee falls or rises

e= Rise or fall depending on the relative shifts of demand and supply

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Answer 1

if

'preferences for steel decrease" then demand decreases causing b) Fall  - e) is applicable as to future "shifts"

Answer 2

e= Rise or fall depending on the relative shifts of demand and supply

Because we don't know by how much supply increased due to lower costs and by how much demand decreased due to change in preferences.

Answer 3

E,

When all things are constant, the price will influence market demand, this is the demand/supply curve.

The market will settle when supply/demand reaches equilibrium.

But a free market can be manipulated by the major players.