Question 12
Theory of DemandThe demand for beans in bags is given by the function Q − 36 + 0.4P = 0. Where P is price in naira and Q is quantity, find Q when P = 20 naira.
- A.12 bags
- B.24 bags
- C.28 bags
- D.30 bags.
Show the answer and explanation
Answer: C (28 bags)
Explanation
Q = 36 − 0.4P = 36 − 0.4(20) = 36 − 8 = 28 bags.