Multiple Choice
Suppose that initially, the equations for demand and supply are Qd = 48 − 4P and Qs = 4P − 16, respectively. If the quantity supplied increases by 4 at every price (so that the supply curve shifts to the right) , the equilibrium price will change from:
A) $8 to $7.50.
B) $8 to $12.
C) $12 to $8.
D) $7.50 to $8.
Correct Answer:
Verified
Correct Answer:
Verified
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