Question 23
Theory of SupplyThe supply of tea is linearly presented as P = 0.2Q, where P is the price and Q is the quantity. What is P when Q = 25?
- A.$0.08
- B.$5.00
- C.$25.02
- D.$125.
Show the answer and explanation
Answer: B ($5.00)
Explanation
P = 0.2 × 25 = $5.00.