Given the Equations for Demand and Supply: Qd = 48

question 33

Multiple Choice

Given the equations for demand and supply: Qd = 48 − 4P and Qs = 4P − 16, respectively, the quantity demanded equals the quantity supplied at a price of:

• A) $4.
• B) $8.
• C) $12.
• D) $16.

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Definitions:

Clan

A social group characterized by shared ancestry, often forming a part of larger tribal or community structures.

Lineage

The direct descent from an ancestor; ancestry or pedigree.

Descent Group

A social group whose members claim common ancestry; a fundamental unit in the organization of many societies.

Membership Restriction

Rules or criteria set by an organization or community that limit or define who can join or participate in the group.