Consider the Global Market for Some Mineral,X

Multiple Choice

Consider the global market for some mineral,X.In January,2017,the equilibrium price and quantity were P = $27 per unit and Q = 140 million units.In January,2019,the equilibrium price and quantity were P = $45 per unit and Q = 175 million units.Which of the following is the best possible explanation for this change in market equilibrium?

A) There has been a decrease in supply of mineral X.
B) There has been an increase in demand for mineral X.
C) There has been an increase in supply of mineral X.
D) There has been a decrease in demand for mineral X.
E) There has been a simultaneous decrease in demand for,and increase in supply of,mineral X.