WAEC - Economics (2019 - No. 7)
If the demand function is Qd = -0.5 + 20, calculate the quantity demanded when price is $15.0
-%27.50
-%12.50
$12.50
-$27.50
Explicació
When price is 15.0, quantity demanded =
Qd = -0.5(15.0)+ 20
Qd = -7.5 + 20 = $12.5