Which of the following statement is TRUE of the effect of changes in demand and supply on price?
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- A A decrease in supply will lead to fall in price and a fall in the quantity bought and sold
- B An increase in demand will lead to a fall in price and quantity bought and sold
- C A decrease in demand will lead to a rise in price and in the quantity bought and sold
- D An increase in supply will lead to a fall price and a rise in the quantity bought and sold
Correct Answer: Option D
Explanation:
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