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Question 10

The demand and supply function of a commodity are given as below.
Qd = 20 - 2p
Qs = 6p - 12
Where p = price in naira, Qd = Quantity demanded and Qs = Quantity supplied. The equilibrium price is

  • A.2 Naira
  • B.4 Naira
  • C.6 Naira
  • D.20 Naira
Objective

Question details

Exam body
WAEC
Subject
Economics
Year
2009
Question no.
#10
Type
Objective
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