If We Observe a Rise in the Equilibrium Price and a Decline

Multiple Choice

If we observe a rise in the equilibrium price and a decline in the equilibrium quantity, then which of the following must have happened?

A) Both demand and the supply must have increased.
B) Both demand and the supply must have decreased.
C) The demand increased while the supply remained unchanged.
D) The supply increased while the demand remained the same.
E) None of the above is correct.