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WAEC Economics 2001 Question 19

Question 19

Theory of Demand

If the quantity demanded of a particular commodity is represented by the function Qd = 30 − 2p, what is the quantity demanded at a price of twelve Naira?

  1. A.6 units
  2. B.8 units
  3. C.10 units
  4. D.12 units.
Show the answer and explanation

Answer: A (6 units)

Explanation

Qd = 30 − 2 × 12 = 30 − 24 = 6 units.