WAEC Economics 2016 Objective — Question 13
Question 13 of 50 from the West African Examinations Council (WAEC) Economics 2016 Objective paper, with the correct answer and a full explanation.
Advertisement
13. The supply of rice in tons is given by the function Qs - 80 - 0.7P = 0 Where Qs = quantity supplied P = price in Dollars ($) Find Qs, when P = $40 (a) 108 tons (b) 52 tons (c) -52 tons (d) -108 tons
- A. 108 tonsCorrect
- B. 52 tons
- C. -52 tons
- D. -108 tons
Explanation
Qs = 80 + 0.7P; when P=40, Qs = 80 + 0.7(40) = 80 + 28 = 108 tons.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.