WAEC Economics 2014 Objective — Question 23
Question 23 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
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The supply of tea is linearly presented as P=0.2Q, where P is the price and Q is the quantity. What is the P when Q=25?
- A. $0.08
- B. $5.00Correct
- C. $25.02
- D. $125
Explanation
When Q=25, P=0.2Q=0.2(25)=$5.00.
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