WAEC - Economics (2014 - No. 20)
The supply of tea is linearly presented as p = 0 . 2Q, where P is the price and Q is the quantity. What is P when Q = 25?
$ 0.08
$ 5.00
$ 25.02
$ 125
Explanation
p = 0.2Q
Q = 0.2Q (25)
Q = \(\frac{0.2}{0.2} \times \frac{25}{0.2}\)
= 125
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