WAEC - Economics (2016 - No. 13)
The supply of rice in tons is given by the equation:
Qs -80 - 0.7P = 0.
Where Qs = Quantity supplied
P = price in naira.
Find Qs, when P = N40
108ton
52tons
-52tons
-108tons
Explicació
Qs = - 80 - 0.7p = 0
Qs = - 80 - 0.7(40) = 0
Qs = 80 + 28
Qs = 108tons
Qs = - 80 - 0.7(40) = 0
Qs = 80 + 28
Qs = 108tons