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

Explanation

Qs = - 80 - 0.7p = 0
Qs = - 80 - 0.7(40) = 0
Qs = 80 + 28
Qs = 108tons

Comments (0)

Advertisement