The demand and supply function of a commodity a... - WAEC Economics 2009 Question
The demand and supply function of a commodity are given as below.
Qd = 20 - 2p
Qs = 6p - 12
Where p = price in naira, Qd = Quantity demanded and Qs = Quantity supplied. The equilibrium price is
Qd = 20 - 2p
Qs = 6p - 12
Where p = price in naira, Qd = Quantity demanded and Qs = Quantity supplied. The equilibrium price is
A
2 Naira
B
4 Naira
C
6 Naira
D
20 Naira
correct option: b
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