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JAMB Economics 2013 Question 15

Question 15

Theory of Supply

If P = ¼(Qs + 10), what is the quantity supplied at N14?

  1. A.14
  2. B.60
  3. C.46
  4. D.32.
Show the answer and explanation

Answer: C (46)

Explanation

14 = ¼(Qs + 10), so Qs + 10 = 56 and Qs = 46.