passwella.
Menu

JAMB Economics 2007 Question 11

Question 11

Theory of Supply

If P = ½(Qs + 15), what is the quantity supplied at ₦9.00?

  1. A.1.5
  2. B.3.0
  3. C.12.0
  4. D.33.0
Show the answer and explanation

Answer: B (3.0)

Explanation

Substitute P = 9: 9 = ½(Qs + 15), so Qs + 15 = 18 and Qs = 3.