JAMB Economics 2021 Objective — Question 35
Question 35 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2021 Objective paper, with the correct answer and a full explanation.
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35. What is the price when quantity demanded is 16? a. 30 b. 40 c. 3.0 d. 10
- A. 30Correct
- B. 40
- C. 3.0
- D. 10
Explanation
If D = 16, then 16 = -5 + 0.7P, so 0.7P = 21, giving P = 21/0.7 = 30.
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