Which of the following statement/statements are true?
Statement 1: When increase in demand is more than increase in supply, equilibrium price remains unchanged.
Statement 2: When increase in demand is more than increase in supply, rightward shift in demand will be more than leftward shift in supply.

Both the statements are false.

The correct answer is option 2: Both the statements are false.

Statement 1: False

• When increase in demand is more than increase in supply, there is excess demand in the market.
• This leads to an increase in equilibrium price as buyers compete to purchase the limited available quantity.
• Since price does not remain unchanged but rather increases, this statement is incorrect.

Statement 2: False

• Increase in demand shifts the demand curve to the right.
• Increase in supply shifts the supply curve to the right, not left.
• The statement incorrectly mentions leftward shift in supply, which is wrong because supply increases, meaning it shifts rightward.
• The correct version should be: "When increase in demand is more than increase in supply, rightward shift in demand will be more than rightward shift in supply."
• Since the statement uses incorrect terminology, it is also false.