When There Is a Decrease in Supply, All Else Held

Multiple Choice

When there is a decrease in supply, all else held equal,

A) equilibrium price falls, demand increases, and equilibrium quantity increases.
B) equilibrium price falls, demand does not change, and equilibrium quantity increases.
C) equilibrium price rises, quantity demanded decreases, and equilibrium quantity decreases.
D) equilibrium price falls, quantity demanded decreases, and equilibrium quantity decreases.
E) equilibrium price rises, demand does not change, and equilibrium quantity increases.