Question 12 (4 points) Suppose that there are three individuals in the market with the following individual demand functions: q- =120-2P. 95 -120- P, and 95 -240-P . Which of the following represents the market demand algebraically? O (1) If P. > 240, QP = 0; (ii) If 240 > P. > 120, QP = 120 - Px (iii) If 120 > P. > 60, QP = 240 - 2Px (iv) If P. 240, Q2 - 480 - 4P (ii) If 240 > P - 120. Q2 = 240 - P (iii) If 120 - P - 60. Q2 = 360 - 2P (iv) If P. 240. QP = 0; (ii) If 240 - P. - 120, Q2 = 240 - P (iii) If 120 - P.. - 60, Q2 = 360 - 2P (iv) If P. - 60. OP - 480 - 4P