Refer to the following graph.
Which of the following pairs of equations describes the supply and demand curves?
A. Qs = P; Qd = 0.25P + 22, respectively
B. Qs = 10; Qd = 48 ? 2P, respectively
C. Qs = 10; Qd = 12 ? 0.25P, respectively
D. Cannot be determined
Answer: C
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What will be an ideal response?
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