Suppose That Initially, the Equations for Demand and Supply Are

question 46

Multiple Choice

Suppose that initially, the equations for demand and supply are Qd = 48 − 4P and Qs = 4P − 16, respectively. If the quantity demanded increases by 12 at every price (so that the demand curve shifts to the right) , the equilibrium price will change from:

• A) $8 to $9.50.
• B) $8 to $12.
• C) $12 to $9.5.
• D) $9.50 to $8.

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Definitions:

-0.73 < Z < 2.27

A statistical range between Z-scores indicating that data points fall within this interval on a standard normal distribution.

0.7 < Z < 1.98

Specifies a range within the standard normal distribution, indicating values between Z = 0.7 and Z = 1.98.

-1.10 < Z < -0.36

Indicates a range between two Z-scores on a standard normal distribution, capturing data points within this specific interval.

Highest 9%

Describes the uppermost value or percentage, in a different context perhaps suggesting an inversion or error, actually implicating a lower percentile.