If Supply Decreases Along a Given Demand Curve

Multiple Choice

If supply decreases along a given demand curve,

A) an excess quantity demanded will be created, increasing the equilibrium price and causing equilibrium quantity to fall
B) an excess quantity supplied will be created, lowering the equilibrium price and causing equilibrium quantity to rise
C) an excess quantity demanded will be created, raising the equilibrium price and quantity
D) an excess quantity supplied will be created, lowering the equilibrium price and quantity
E) price will fall, shifting the demand curve outward, raising the equilibrium quantity