Suppose in a Financial Crisis, Major Automakers Reduce Their Production

Multiple Choice

Suppose in a financial crisis, major automakers reduce their production of autos while consumers reduce their demand for autos. We can conclude with certainty that in the market of autos,

A) both the equilibrium price and equilibrium quantity will increase.
B) the equilibrium price will decrease and the equilibrium quantity will increase.
C) the equilibrium price will decrease, but the equilibrium quantity will increase, decrease or remain unchanged.
D) the equilibrium quantity will decrease, but the equilibrium price will increase, decrease or remain unchanged.
E) both the equilibrium price and equilibrium quantity will decrease.