WAEC - Economics (2024 - No. 17)
The table below shows the supply and demand schedule for apples. Use it to answer question 17
| Price ($) | Quantity demanded | Quantity supplied |
| 10 | 50 | 25 |
| 20 | 35 | 35 |
| 30 | 20 | 45 |
| 40 | 5 | 55 |
At what price is excess supply equal to 25?
$10
$30
$30
$40
Explanation
C: When the price is €30, demand is 20 units and supply is 45units making excess supply of 25 units more than demand.
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