Which of the following statements is correct? A) A change in demand o

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.

ANSWER

C