The demand and supply function of a commodity are given as below. Qd = 20
ECONOMICS
WAEC 2009
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
- A. 2 Naira
- B. 4 Naira
- C. 6 Naira
- D. 20 Naira
Correct Answer: B. 4 Naira
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