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WAEC Economics 2000 Question 7

Question 7

Theory of Supply

The quantity supplied of books per week is represented by the function: Qs = 70 + ½P. At a price of N8.00, the quantity supplied is

  1. A.70
  2. B.74
  3. C.76
  4. D.86
Show the answer and explanation

Answer: B (74)

Explanation

Qs = 70 + ½ × 8 = 70 + 4 = 74.