Question on: JAMB Economics - 2014
Given the supply function P = 1/4(Qs+10) when P = N10, what is Qs?
A
20
B
15
C
50
D
30
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Correct Option: A
Here's how to solve for Qs:
1. **Substitute the value of P into the equation:**
P = 1/4(Qs + 10)
10 = 1/4(Qs + 10)
2. **Multiply both sides of the equation by 4:**
4 * 10 = Qs + 10
40 = Qs + 10
3. **Subtract 10 from both sides of the equation:**
40 - 10 = Qs
30 = Qs
Therefore, Qs = 30.
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