Which of the Following Statements Is Correct

question 10

Multiple Choice

Which of the following statements is correct?

• A)A change in demand or supply can only be caused by a change in price.
• B)A simultaneous decrease in demand and increase in supply will result in an increase in equilibrium price and uncertain effect on quantity.
• C)If price is currently above equilibrium, market adjustments will result in a decrease in price and quantity supplied.
• D)An increase in supply invariably leads to a shortage in the affected market.

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Definitions:

Grade Reduction

The lowering of academic grades based on criteria or performance below expected standards.

Omission

The act of leaving out or excluding something, either intentionally or accidentally.

Square Brackets

Square brackets are used for inserting additional information into already existing text, clarifying information, or indicating modifications within quotations.

Ellipsis

A punctuation mark (...) used to indicate the omission of words, or a pause in speech.