WAEC Economics 2012 Objective — Question 13
Question 13 of 49 from the West African Examinations Council (WAEC) Economics 2012 Objective paper, with the correct answer and a full explanation.
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Given the demand function Qd=20–P. What is Qd when P is $12?
- A. 6 unitsCorrect
- B. 10 units
- C. 12 units
- D. 14 units
Explanation
Qd = 20 − ½P and P=#12. Substitute for P in the demand equation: Qd = 20−½(12) = 20−6 = 14 units. (Note: per the printed answer key the correct choice is labelled A.)
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