Suppose That Initially, the Equations for Demand and Supply Are

question 82

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.

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Definitions:

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A metric unit of volume equal to 1,000 cubic centimeters, commonly used to measure liquids and gases.

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To change something into a different form or properties, such as energy forms or data formats.

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