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. $12 to $9.5.
B. $8 to $9.50.
C. $8 to $12.
D. $9.50 to $8.
Answer: B
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