Consider the Following Statements When Answering This Question: I

Multiple Choice

Consider the following statements when answering this question: I. Increases in the demand for a good, which is produced by a competitive industry, will raise the short-run market price.
II) Increases in the demand for a good, which is produced by a competitive industry, will raise the long-run market price.

A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.