The price of a resource declines when:
a. both the demand for and the supply of the resource declines in the same proportion.
b. demand remaining constant, supply of the resource declines.
c. supply remaining constant, the demand for the resource declines.
d. both the demand for and the supply of the resource increases in the same proportion.
e. both the demand for and the supply of the resource declines, but supply falls by a greater proportion than demand.
c
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