Which of the Following Statements Is True

question 178

Multiple Choice

Which of the following statements is true?

• A)An increase in demand causes a change in equilibrium price; the change in price does not cause a further change in demand or supply.
• B)A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in demand.
• C)If both demand and supply increase there must be an increase in equilibrium price; equilibrium quantity may either increase or decrease.
• D)If demand decreases and supply increases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater.

---

Definitions:

Reports

Documents that collate and summarize data or findings from research, analysis, or investigation, often used for decision-making.

Unique Identifier

A key, such as a serial number or ID, that uniquely identifies an entity in a database or system.

Rows

Horizontal groupings in tables or spreadsheets which hold information across different categories or fields pertaining to similar objects or entities.

Tables

Structures consisting of rows and columns, used to organize data in a readable format.