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Given the Equations for Demand and Supply: Qd = 48

Question 33

Multiple Choice

Given the equations for demand and supply: Qd = 48 − 4P and Qs = 4P − 16, respectively, the quantity demanded equals the quantity supplied at a price of:


A) $4.
B) $8.
C) $12.
D) $16.

Correct Answer:

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