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Exhibit 4-16 Refer to Exhibit 4-16

Question 244

Multiple Choice

Exhibit 4-16 Exhibit 4-16 Refer to exhibit 4-16.If the market demand for baby formula is given by demand curve D2 and the supply is given by supply curve S2, which of the following is the market equilibrium? A) P<sub>1</sub>, Q<sub>1</sub> B) P<sub>3</sub>, Q<sub>4</sub> C) P<sub>4</sub>, Q<sub>3</sub> D) P<sub>2</sub>, Q<sub>1</sub> Refer to exhibit 4-16.If the market demand for baby formula is given by demand curve D2 and the supply is given by supply curve S2, which of the following is the market equilibrium?


A) P1, Q1
B) P3, Q4
C) P4, Q3
D) P2, Q1

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