Multiple Choice
Suppose that initially, supply is given by the equation Qs = 4P − 16. If, as a result of higher production costs, the quantity supplied decreases by 4 at every price, the new supply equation would be:
A) Qs = 8P − 16.
B) Qs = P − 16.
C) Qs = 4P − 20.
D) Qs = 4P − 12.
Correct Answer:
Verified
Correct Answer:
Verified
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