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Which of the following is the best explanation of why the price adjusts following an increase in supply? Choose 1 answer: Choose 1 answer: (Choice
Which of the following is the best explanation of why the price adjusts following an increase in supply? Choose 1 answer: Choose 1 answer: (Choice A) At the initial price, there will be a surplus after supply increases. Price must rise until the quantity demanded and quantity supplied are equal again. A At the initial price, there will be a surplus after supply increases. Price must rise until the quantity demanded and quantity supplied are equal again. (Choice B) At the initial price, there will be a shortage after supply increases. Price must rise until the quantity demanded and quantity supplied are equal again. B At the initial price, there will be a shortage after supply increases. Price must rise until the quantity demanded and quantity supplied are equal again. (Choice C) At the initial price, there will be a shortage after supply increases. Price must fall until the quantity demanded and quantity supplied are equal again. C At the initial price, there will be a shortage after supply increases. Price must fall until the quantity demanded and quantity supplied are equal again. (Choice D) At the initial price, there will be a surplus after supply increases. Price must fall
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