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Suppose That Initially, Demand Is Given by the Equation Qd

Question 96

Multiple Choice

Suppose that initially, demand is given by the equation Qd = 48 − 4P. If, as a result of an increase in income, the quantity demanded increases by 12 at every price, the new demand equation would be:


A) Qd = 60 − 4P.
B) Qd = 36 − 4P.
C) Qd = 48 − 16P.
D) Qd = 48 − 8P.

Correct Answer:

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