Question 49
Basic Agricultural EconomicsStudy the graph illustrated below.
Determine the equilibrium price of rice.
- A.N1.00
- B.N2.00
- C.N3.00
- D.N4.00
Show the answer and explanation
Answer: B (N2.00)
Explanation
The curves cross at a price of N2.00.
WAEC Agricultural Science 2019 Question 49